Zhuguang Holdings Settles Loan by Capitalization via Share Subscription

MT Newswires Live06-18

Zhuguang Holdings Group (HKG:1176) agreed to allot and issue 1,625,000,000 subscription shares at HK$0.20 per share to Rong De Investments for a total sum of HK$325.00 million under the specific mandate, a Monday filing with the Hong Kong Exchange said.

Rong De Investments holds 3,960,649,289 shares, representing approximately 54.81% of the issued share capital of the company, as of the date of the filing, and is the controlling shareholder of the company.

The company had borrowed a loan of HK$325.0 million at a 12% per annum interest rate from the subscriber on Oct. 28, 2021, for which the total amount including principal and all interest comes in at around HK$428.0 million.

The parties have agreed that on the completion of the subscription, the subscription price will be settled through capitalization.

The company's shares were up 3% on Tuesday's close.

Price (HKD): $0.17, Change: $+0.01, Percent Change: +3.03%

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