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2007-10-12 12:31:00 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 with Macquarie Securities
Ltd and Merrill Lynch Far East Ltd for their placement of a total of 206 mln
existing VST shares, priced at 3.05 hkd per share, with not less than six
independent investors.
Under the top-up share placement arrangement, L&L Ltd agreed to place 186
mln existing VST shares and subscribe to the same number of new VST shares at
the placement price of 3.05 hkd per share.
The shares to be placed by L&L represent about 19.96 pct of VST's
existing issued share capital and about 16.64 pct of its enlarged issued
share capital.
CKC Holdings agreed to place 20 mln shares, which represent approximately
2.15 pct of VST's existing issued share capital and about 1.79 pct of its
enlarged issued share capital.
VST said it expects to generate net proceeds of about 552 mln hkd from
the top-up share placements.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com
jc/net xfnjcc/xfnnt
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