 |
|
  |
2007-12-10 10:10:00 a.m. HKT, XFNA
Hong Kong-listed Yue Da to raise 128 mln hkd via share placement
|
| |
HONG KONG (XFN-ASIA) - Yue Da Holdings Ltd, a base-metal mining and
processing company in China, said it plans to raise up to 128 mln hkd by
placing up to 20 mln new shares at 6.63 hkd per share with not less than six
independent investors.
The selling price is a discount of 16.39 pct to the last closing price of
7.93 hkd per share on Dec 5.
The total offered shares represent approximately 7.05 pct of the existing
issued share capital of the company and 6.58 pct of the enlarged issued share
capital.
Upon completion of the deal, controlling shareholder Yue Da Group (HK) Co
Ltd's stake in the company will decrease to 45.83 pct from 49.05 pct.
Yue Da intends to use the proceeds to finance acquisitions and as general
working capital.
Last week, the company said its subsidiaries plan to acquire mining
assets in Inner Mongolia in northern China for a total of 1.13 bln yuan.
Meanwhile, Yang Long, another substantial shareholder also plans to sell
up to 9.49 mln existing shares in the company. It did not specify the price
of the sale.
Yue Da traded at 7.90 hkd in early trade, down 0.03 hkd or 0.38 pct.
( 1 usd = 7.8 hkd)
george.ng@xfn.com xfngn/xfjamesa
MMMM
AFN |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
