USPACE Technology Group (HKG:1725) allotted and issued a little over 71.5 million shares to individual investors Chen Lizhong and Liu Shoutang for HK$87.1 million in net proceeds, a Friday Hong Kong bourse filing said.
The issued shares represent 14.2% of the enlarged issued share capital of the company.
The commercial aerospace company plans to use the proceeds for its general working capital.
The company's shares were up over 1% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments