 |
|
  |
2007-6-14 11:08:00 a.m. HKT, XFNA
HK-listed U-Right to place 400 mln shrs at 0.36 hkd each to fund China
|
| |
expansion
HONG KONG (XFN-ASIA) - U-Right International Holdings Ltd said it has
entered into an agreement to place 400 mln shares at 0.36 hkd per share to
fund expansion of the company's fashion clothes retail business in China.
A portion of the estimated 140.2 mln hkd proceeds from the share sale
will be used to fund future investments, including textile-related
manufacturing projects, the company said.
It said the placing shares represent about 13.62 pct of the company's
existing issued share capital and about 11.98 pct of its issued share capital
as enlarged by the placement.
The placing price of 0.36 hkd represents a discount of about 6.49 pct to
U-Right's closing price of 0.385 hkd per share yesterday.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com
jc/rc xfnjcc/xfnrc
MMMM
AFN |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
