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2003-11-19 09:05:00 a.m. HKT, XFNA
HK's Playmates Holdings says to raise 155-202 mln hkd from shares top-up
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HONG KONG (AFX-ASIA) - Hong Kong's Playmates Holdings Ltd said its major
shareholder has entered into a shares top-up agreement that will raise about
155-202 mln hkd for the company.
The shareholder Angers Investments, which currently holds 610 mln shares
or a 43.33 pct stake in Playmates, will sell a maximum of 130 mln shares at 1.
60 hkd each through a placing agent CLSA Limited.
Angers Investments will then subscribe for the same number of shares at
the same price.
The proceeds will be used for general working capital and developing the
group's core toy business, Playmates said in a statement.
After the placing and subscription, Angers Investments will see its
shareholding fall to less than 40 pct.
Angers Investments is incorporated in the British Virgin Islands and is
beneficially owned by Chan Chun Hoo, a director of the company.
(1 usd = 7.8 hkd)
jill.wong@afxasia.com
jyw/ram
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