Kiu Hung International (HKG:0381) has raised net proceeds of HK$8 million from a share issue to partially settle a HK$12 million debt it owes to subscriber Ou Zhu, a Thursday filing said.
The funds were raised through the issue of 53,220,754 shares to Ou Zhu at HK$0.15 apiece.
The shares represent 6.74% of the toy manufacturer's issued share capital.
Shares of the company closed 56% higher on Thursday.
Price (HKD): $0.78, Change: $+0.28, Percent Change: +56.00%
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