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Amax Holdings Ltd Announces Placing Of New Shares


Tuesday, 4 Jun 2013 08:20am EDT 

Amax Holdings Ltd announced that the Placing Agent has conditionally agreed to place, on a effort basis, to one or more independent placee(s) for up to 9,600,000 new Shares of the Company at a price of HKD0.83 per Placing Share and will receive a placing commission of 1.5% on the gross proceeds of the actual number of Placing Shares being placed. The Directors are of the view that the placing commission of 1.5% is fair and reasonable based on current market conditions and in the interests of the Company and the Shareholders as a whole. The Placing Price of HKD0.83 represents a discount of approximately 2.4% to the closing price of HKD0.85 as quoted on the Stock Exchange on the date of the Placing Agreement; and a discount of approximately 7.2% to the average closing price of approximately HKD0.89 in the last five trading days prior to the date of the Placing Agreement. The aggregate gross and net proceeds from the Placing will be approximately HKD7.97 million and approximately HKD7.85 million, respectively. The Company intends to utilize the net proceeds from the Placing for general working capital of the Group. The net proceeds raised per Share upon completion of the Placing will be approximately HKD0.82 per Share. 

Company Quote

1.49
0.02 +1.36%
3:57am EDT