 |
|
  |
2004-2-17 08:27:00 a.m. HKT, XFNA
Hong Kong-listed Water Oasis to raise 7.1 mln hkd from new-for-old placement
|
| |
HONG KONG (AFX-ASIA) - Hong Kong-listed Water Oasis Group Ltd (1161.HK)
will raise 7.1 mln hkd from a placement and subscription by shareholder
Advance Favour Holdings Ltd involving 15 mln shares, representing 4.66 pct of
its existing issued share capital and 4.45 pct of its enlarged capital.
The shares will be placed to not less than six independent investors at 0.
50 hkd each, representing a discount of 35.06 pct to the closing price of 0.
77 hkd on Feb 16, the company said in a statement.
Advance Favour will then subscribe for the same number of shares at the
same price. The company will use the proceeds as general working capital.
Advance Favour, incorporated in the British Virgin Islands, is held by a
family trust whose beneficiaries include members of the Yu and Lai families.
Yu Lai Si is the company's biggest shareholder with a 24.10 pct stake.
Her stake will fall to 23.05 pct after the placement and subscription.
Existing public shareholders will also see their stake diluted to 26.39
pct from 27.60 pct.
The group distributes skin care products under the ""~H2O+"" brandname in
Hong Kong, China, Macau and Taiwan.
(1 usd = 7.8 hkd)
jill.wong@afxasia.com
jyw/mh
AFN |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
