Market Insight

2024.07.17 10:03

Market News KIU HUNG INT'L (00381) to place shares for HK$52.17M

(Infocast News) KIU HUNG INT'L (00381) has agreed to place 470,000,000 Shares at HK$0.111 per Share. The Placing Shares represent 63.85% of the issued share capital of the Company as enlarged by the allotment and issue of the Placing Shares. The gross proceeds from the Placing will be HK$52,170,000. The net proceeds are estimated to be HK$51,300,000. It is currently intended that HK$51,000,000 of the net proceeds from the Placing will be utilized to repay the outstanding amount of the Hubei CB in full and the remaining net proceeds from the Placing of HK$300,000 for general working capital of the Company. (WL)

Data Source：INF