Alco Holdings (HKG:0328) raised HK$66.6 million via the placement of nearly 19,090,000 shares to at least six parties at HK$3.49 apiece, a Wednesday Hong Kong bourse filing said.
The placed shares represent 16.66% of the enlarged issued share capital of the company.
The consumer electronic products manufacturer and seller plans to use the net proceeds of HK$65.2 million to repay its borrowings, settle its external debts, and use the remaining for the group's general working capital.
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