Da Sen (HKG:1580) agreed to place 219.1 million new shares at HK$0.241 each, with net proceeds expected at about HK$52.2 million, according to a Sept. 18 Hong Kong bourse filing.
The placing price represents a 19.7% discount to the Sept. 18 closing price of HK$0.300.
The shares will account for 20% of the company's existing issued share capital and 16.67% of its enlarged share capital.
The company plans to use the net proceeds to repay existing indebtedness, with the balance allocated to general working capital and business development.
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