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2002-7-25 10:17:00 a.m. HKT, XFNA
Medical China shrholders to place 35 mln shrs at 0.57 hkd/shr
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HONG KONG (AFX-ASIA) - Medical China Ltd (8186.HK) said its two major
shareholders are proposing to place out a total of 35 mln shares in the
company at 0.57 hkd per share and then subscribe to an equivalent number of
new shares at the same per-unit price.
In a statement, the company said shareholder James Li will place out 32.8
mln existing shares, while W.H.Li will place 2.2 mln shares.
The 35 mln new shares to be issued represent a 4.1 pct stake in the
company's enlarged share capital.
It said net proceeds of 19.35 mln hkd will be raised from the
subscription.
Medical China last traded at 0.58 hkd.
ra/rc
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