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2006-11-15 04:16:00 a.m. HKT, XFNA
Hong Kong's Road King shareholders to place 63.5 mln shrs at 10.96 hkd each
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HONG KONG (XFN-ASIA) - Road King Infrastructure Ltd said shareholders Wai
Kee Holdings Ltd and executive director Ko Yuk Bing have agreed to place a
total of 63.5 mln shares with not less than six independent investors at 10.
96 hkd per share.
The placement price represents a 5 pct discount to the stock's closing
price of 11.54 hkd on November 9, the last trading day before suspension, the
company said in a statement.
Separately, Road King shareholder Shenzhen Investment Ltd has agreed to
subscribe to 20 mln new shares in Road King at 10.96 hkd each.
Net proceeds from the placement and the share sale stand at 850 mln hkd,
which will be used for general working capital purposes, the company said.
After the placement, Wai Kee's shareholdings in Road King will fall to 40.
69 pct from 46.07, and that of Shenzhen Investment will drop to 24.23 pct
from 24.12 pct.
As of 12.05, Road King was down 0.36 hkd or 3.12 pct at 11.18, and Wai
Kee down 0.02 hkd or 0.75 pct at 2.64.
(1 usd = 7.8 hkd)
roby.lau@xfn.com
rl/net xfnrl/xfnnt
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