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2007-12-5 12:01:00 p.m. HKT, XFNA
Hong Kong's New World Devt mobile unit places 12 mln new shrs at 6.0 hkd/shr
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HONG KONG (XFN-ASIA) - New World Mobile Holdings Ltd, a unit of property
developer New World Development Co, said it would place 12 mln new shares at
6.0 hkd per share to raise net proceeds of some 70 mln hkd to use for its new
investments as well as for general working capital.
The shares placement represents approximately 12.28 pct of New World
Mobile's existing issued share capital and approximately 10.94 pct of its
issued share capital as enlarged by the shares sale.
The placement price of 6.0 hkd represents a discount of approximately 13.
04 pct to New World Mobile's closing price of 6.9 hkd yesterday.
The new shares are to be placed to independent parties by placing agent
Taifook Securities.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com
jc/kmq
xfnjcc/xfnkm
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