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China Properties Investment Holdings Ltd Announces Placing Of New Shares


Friday, 16 Aug 2013 10:03am EDT 

China Properties Investment Holdings Ltd announced that on August 16, 2013, the Company and the Emperor Securities Limited(Placing Agent) entered into the Placing Agreement, pursuant to which the Placing Agent has conditionally agreed to place, on behalf of the Company, up to 50,000,000 Placing Shares to the Placees at the Placing Price of HKD0.136 per Placing Share. The Placing Shares represent approximately 11.31% of the existing issued share capital of the Company as at the date of this announcement and approximately 10.16% of the issued share capital of the Company as enlarged by the Placing. The maximum gross proceeds from the Placing will be approximately HKD6.8 million. The maximum net proceeds from the Placing are estimated to be approximately HKD6.65 million, which will be used as general working capital of the Group and/or for financing future investment opportunities. Completion of the Placing is conditional upon, among others, the Listing Committee granting the listing of, and permission to deal in, the Placing Shares to be allotted and issued pursuant to the Placing. The Placing Shares represent approximately 11.31% of the existing issued share capital of the Company as at the date of this announcement and approximately 10.16% of the issued share capital of the Company as enlarged by the Placing. 

Company Quote

0.425
0.01 +2.41%
11 Jul 2014