Feb. 23, 2007 (China Knowledge) – Toll-road operator Road King <1098> is seeking to raise as much as HK$549 million through a share placement.

This placement was announced just three months after the company had raised HK$850 million from a placement three months earlier. The Hong Kong-listed company issued 45 million shares at HK$12.20, a 4.4% discount to Thursday's closing price of HK$12.76.

JPMorgan is understood to be arranging the sale.

Road King had in January acquired a further 39.74% of troubled Beijing-based Sunco Property for RMB 1.3 billion after buying a 55% stake in the firm last September.