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Sinotrans Ltd announces placing of new H shares under general mandate


Wednesday, 16 Jul 2014 06:50pm EDT 

Sinotrans Ltd:Says that on July 16, the company and placing agent entered into the placing agreement pursuant to which the company agrees to issue placing shares, and placing agent agrees as agent of the company.To procure placees on a best efforts basis to purchase placing shares at placing price and on terms and subject to conditions set out in placing agreement.Placing shares will be allotted and issued pursuant to general mandate.On assumption that all placing shares are fully placed, aggregate gross proceeds from placing are expected to be about HK$1.716 mln and aggregate net proceeds (after deduction of the commissions and estimated expenses) from placing are expected to be about HK$1.678 mln.Net proceeds from placing are intended to be used as the company‚Äôs general working capital to fund the group's business development. 

Company Quote

5.49
0.08 +1.48%
3:59am EDT