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2004-2-24 11:04:00 a.m. HKT, XFNA
Hong Kong-listed Shenzhen High-Tech to raise 129 mln hkd from placement
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HONG KONG (AFX-ASIA) - Hong Kong-listed Shenzhen High-Tech Holdings Ltd
(106.HK) will raise 129 mln hkd by placing 2.392 bln new shares to no less
than six independent investors representing 20 pct of existing issued share
capital.
The placing price of 0.056 hkd per share represents a discount of 20 pct
to the closing price of 0.070 hkd on Feb 20.
The company said it will use the proceeds to acquire three residential
buildings in China and to re-decorate and re-furbish the units.
The company is engaged in the manufacturing and sale of computers and
servers, and property investment and development.
After the placing, the public stake will rise to 77.26 pct from 72.71
pct.
(1 usd = 7.8 hkd)
jill.wong@afxasia.com
jyw/mh
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