Kingkey Financial International (HKG:1468) plans to increase its authorized share capital to HK$1 billion from HK$100 million, a Tuesday filing with the Hong Kong Exchange said.
The company also agreed to place up to 1 billion shares to at least six independent third parties at HK$0.25 per share, the filing said.
The net proceeds from the issuance of shares are expected to be around HK$247.3 million.
The company's shares closed nearly 4% lower on Tuesday.
Price (HKD): $0.19, Change: $-0.01, Percent Change: -3.63%
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