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2003-11-11 08:11:00 a.m. HKT, XFNA
HK-listed Raymond Industrial plans share top-up to raise 76.4 mln hkd
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HONG KONG (AFX-ASIA) - Hong Kong-listed Raymond Industrial Ltd announced
a share top-up arrangement to raise 76.4 mln hkd for business expansion and
general working capital.
In a statement, the company said that four shareholders holding a
combined 68.4 pct of its existing issued share capital will together place 62.
8 mln shares, or a 18.73 pct stake, with no less than six independent parties
at 2.50 hkd per share.
The four are Broadbridge Enterprises Ltd and Ho Kit Man Inc, charity
Philip K H Wong Foundation and Silver Talent Development Ltd, a unit of a
China's state-owned China North Industries Corp.
After the placement, Broadbridge, Ho Kit Man and Silver Talent will
subscribe to 31.4 mln new shares at the same price.
The four shareholders will hold a combined 54 pct of the company after
the placement and subscription.
(1 usd = 7.8 hkd)
jill.wong@afxasia.com
jyw/mh
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