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2003-9-16 08:58:00 a.m. HKT, XFNA
HK's U-Right Intl to place 112.00 mln new shares at 0.38 hkd each
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HONG KONG (AFX-ASIA) - U-Right International Holdings Ltd said it has
conditionally agreed to place 112.00 mln new shares at 0.38 hkd each to
independent investors.
In a statement, the company said the shares to be placed represent 8.64
pct and 7.96 pct of its existing and enlarged share capital, respectively.
It said the net proceeds of 41.6 mln hkd will be used to construct its
nano business production facilities in China, partially repay borrowings and
for working capital.
(1 usd = 7.8 hkd)
leefun.chew@afxasia.com
clf/ds
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