China's Vanke seeks to raise $2.2b in private placement for projects

China's Vanke seeks to raise $2.2b in private placement for projects

FILE PHOTO: A person walks past by a gate with a sign of Vanke at a construction site in Shanghai, China, March 21, 2017. REUTERS/Aly Song

China’s property giant Vanke Co Ltd plans to raise up to 15 billion yuan ($2.2 billion) in a private placement of A-shares that it said will fund 11 property projects and boost capital reserves.