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Beautiful China Holdings Co Ltd proposes placing of new shares under general mandate

Friday, 20 Jun 2014 10:47am EDT 

Beautiful China Holdings Co Ltd:On June 20, CNI Securities Group Limited (placing agent) and company entered into placing agreement.Pursuant to which company has conditionally agreed to place, through placing agent up to 426,000,000 placing shares to not less than six placees who and whose ultimate beneficial owners are third parties independent of, and not connected with, Company and connected persons.Placing price of HK$0.4.Maximum of 426,000,000 placing shares under placing represent about 10.29 pct of existing issued share capital of company.Maximum gross proceeds from placing will be about HK$170.4 million.Maximum net proceeds from placing will amount to about HK$164 million.which is intended to be applied as to about 90 pct for development of the eco-environment construction, ecology rehabilitation and related business of the Group and about 10 pct as general working capital of Group.Maximum net price raised per Share upon the completion of placing will be about HK$0.385 per Share. 

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0.0040 +2.03%
19 Dec 2014