China Qidian Guofeng Holdings (HKG:1280) has completed the issue of 530 million shares to substantial shareholder Noble Trade International Holdings, a Friday filing on the Hong Kong bourse said.
The shares, which were issued at HK$0.35 apiece following approval at a May 21 extraordinary general meeting, represent around 67% of the companyâs enlarged issued share capital.
The net proceeds from the issue were entirely used to offset part of a loan owed by the appliance retailer to the subscriber.
Shares of the company closed nearly 4% lower on Friday.
Price (HKD): $0.75, Change: $-0.03, Percent Change: -3.85%
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