Seazen Group Completes Stock Offering, Raising HK$469 Million in Net Proceeds

MT Newswires Live02-12

Seazen Group (HKG:1030) completed a previously announced stock offering to raise HK$468.9 million in net proceeds, according to a Hong Kong bourse filing Wednesday.

Shares of the property manager gained nearly 1% in morning trade Thursday.

Under the two-step offering, Wealth Zone Hong Kong Investments, a shareholder of the firm, sold 198 million shares of the company at HK$2.39 apiece to new investors and then subscribed to an equal number of shares from Seazen on the same terms.

The shares represent 2.73% of the company's enlarged share capital.

Funds raised will be used for developing the company's business, to repay debt, and for general working capital.

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