Zhongtian Construction Seeks Nearly HK$16 Million from Share Placement

MT Newswires Live06-10

Zhongtian Construction (Hunan) Group (HKG:2433) is targeting to raise HK$15.6 million from the placement of up to 96 million new shares at HK$0.162 apiece, according to a Monday filing with the Hong Kong Exchange.

The shares represent about 16.7% of the issued share capital, as enlarged by the placement. I Win Securities, the placing agent, will allot and issue the shares to at least six investors, the filing said.

Expected net proceeds are about HK$15.2 million, of which the company intends to use 90% for a newly awarded construction project of cultural exhibition and heritage center in Jiangxi Province and the remaining 10% for working capital.

Price (HKD): $0.20, Change: $, Percent Change: +0.52%

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