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2007-10-12 12:24:00 p.m. HKT, XFNA
Hong Kong's VST Holdings shareholders to place 206 mln shares at 3.05 hkd/shr
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HONG KONG (XFN-ASIA) - VST Holdings Ltd said its shareholders L&L Ltd and
CKC Holdings Ltd have entered into agreements to place a total of 206 mln
existing VST shares at 3.05 hkd per share.
The shares will be placed with no less than six independent investors.
Under the top-up share placement, L&L Ltd agreed to place 186 mln
existing VST shares and subscribe to the same number of new shares of the
company at 3.05 hkd per share.
The shares represent approximately 19.96 pct of VST's existing issued
share capital and approximately 16.64 pct of its issued share capital as
enlarged by the top-up subscription.
Meanwhile, CKC Holdings agreed to place 20 mln shares which represent
approximately 2.15 pct of VST's existing issued share capital and
approximately 1.79 pct of its issued share capital as enlarged by the top-up
subscription.
VST said it will generate net proceeds of about 552 mln hkd from the
top-up share placement.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com xfnjcc/xfnrc
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