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Karce International Holdings Co Ltd Announces Placing Of New Shares


Thursday, 6 Jun 2013 09:49am EDT 

Karce International Holdings Co Ltd announced that On June 6, 2013, the Company and the Placing Agent entered into the Placing Agreement, pursuant to which the Company has conditionally agreed to place, through the Placing Agent on a effort basis, a maximum of 140,468,000 Placing Shares at a price equal to 85% or more of the average closing price of the Share as quoted on the Stock Exchange for the last five trading days up to and including the date of confirmation of placing price with the placee who and whose ultimate beneficial owners are Independent Third Parties. The estimated Placing Price of HKD0.247 represents (i) a premium of approximately 1.23% to the closing price of HKD0.244 per Share as quoted on the Stock Exchange on 6 June 2013, being the date of the Placing Agreement; and (ii) a premium of 0.16% to the average closing price of HKD0.2466 as quoted on the Stock Exchange for the five consecutive trading days prior to the date of the Placing Agreement. The maximum gross proceeds from the Placing will be approximately HKD34,700,000. The maximum net proceeds, after deducting the placing commission and other related expenses, are estimated to be approximately HKD34,300,000. The maximum net price raised per Placing Share upon the completion of the Placing will be approximately HKD0.244. The Company intends to apply the net proceeds from the Placing for general working capital of the Group. 

Company Quote

13.12
0.02 +0.15%
2:55am EST