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2007-6-7 10:01:00 a.m. HKT, XFNA
Hong Kong-listed K.P.I. major shareholder to sell 130 mln shrs at 0.38 hkd
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HONG KONG (XFN-ASIA) - K.P.I. Co Ltd (605.HK) said its chairman and
controlling shareholder Cheung Siu Lam has agreed to sell some 130 mln
existing shares via a placement at a price of 0.38 hkd per share.
Siu has also agreed to subscribe to the same number of new shares.
The placing shares represent about 9.95 pct of the company's existing
issued share capital and about 9.05 pct of the share capital as enlarged by
the allotment and issue of the subscription shares.
The placing price represents a discount of about 14.6 pct to the closing
price of 0.445 hkd of the company's shares on Tuesday.
The company will use the estimated 49 mln hkd net proceeds from the share
sale for general working capital.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com xfnjcc/xfnrc
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