Chinese developer Shimao plans private placement as Beijing lifts equity sales ban

Chinese developer Shimao plans private placement as Beijing lifts equity sales ban

FILE PHOTO: People walk past the logo of property developer Shimao Group near Shimao Tower in Shanghai, China January 13, 2022. REUTERS/Aly Song/File Photo

Chinese property developer Shimao Group Holdings Ltd plans a private placement of shares, becoming the second player in the cash-squeezed sector to tap equity fundraising options just a day after Beijing lifted a ban on such deals.