Hao Tian International Construction Investment to Raise HK$600 Million Through Share Placement

MT Newswires Live10-04

Hao Tian International Construction Investment Group (HKG:1341) will raise about HK$600 million by placing 1,524,224,000 shares in at least six placees, according to a Thursday filing with the Hong Kong bourse.

The placement price is HK$0.4 per placing share. The placement shares will account for 16.67% of the total enlarged share capital of the company.

The proceeds will be used for general working capital needs, possible investment in developing electric vehicles and power-related businesses in Asia, and further developing the existing business in Malaysia.

The company's stocks were up by almost 4% at Friday's closing.

Price (HKD): $0.53, Change: $+0.020, Percent Change: +3.92%

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