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2007-1-16 10:28:00 a.m. HKT, XFNA
Hong Kong-listed Imagi Intl to place 125 mln shrs at 3.5 hkd each
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HONG KONG (XFN-ASIA) - Imagi International Holdings Ltd said it has
agreed to place 125 mln shares at 3.50 hkd each on a best-endeavour basis.
The 125 mln shares represent 9.04 pct of the enlarged issued share
capital of the company, it said in a statement.
The placing price of 3.5 hkd represents a discount of 11.84 pct to the
closing price of 3.97 hkd on Jan 12, the last trading day before suspension.
The company is expected to raise net proceeds of 426.5 mln hkd, of which
380 mln hkd will be used for the development of new computer graphics
animation feature film projects, and the remaining amount for the expansion
of the company's studios in Hong Kong and the US.
At 10.22 am, Imagi International was up 0.04 hkd or 1.01 pct at 4.01.
(1 usd = 7.8 hkd)
roby.lau@xfn.com
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