USPACE Technology Group to Raise HK$87 Million via Share Issuance

MT Newswires Live10-21

USPACE Technology Group (HKG:1725) seeks to raise HK$87.1 million in net proceeds through a private placement, a Friday filing with the Hong Kong Exchange said.

The electronics manufacturing services provider plans to issue 71,524,000 shares to two subscribers, the filing said.

The shares will represent about 14.20% of the company's enlarged share capital and will be sold at HK$1.23 apiece.

The company plans to use the proceeds for its general working capital including administrative expenses and operating expenses of the group's aerospace business.

Shares of the company closed over 7% higher on Monday.

Price (HKD): $1.62, Change: $+0.11, Percent Change: +7.28%

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