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2007-1-16 09:52:00 a.m. HKT, XFNA
Hong Kong-listed China Grand Forestry, Imagi Intl place shares - report
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HONG KONG (XFN-ASIA) - China Grand Forestry Resources is seeking to raise
575 mln hkd from a share placement involving 500 mln new shares at an offer
price of 1.15 hkd each, the South China Morning Post said citing a sale
document.
The paper said the company plans to use the funds to pay for land
acquisitions. It tapped Deutsche Bank for the deal.
Separately, Imagi International, a digital animation movie producer,
plans to raise 370 mln hkd from the sale of 100 mln new shares at an
indicative price range of 3.50-3.70 each, the paper said.
It plans to use the share placement proceeds to fund its Teenage Mutant
Ninja Turtles animated film.
(1 usd = 7.8 hkd)
leonora.walet@xfn.com
lw/km xfnlwm/xfnkm
MMMM
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