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Solartech International Holdings Ltd announces issue of shares

Tuesday, 21 Jan 2014 10:51am EST 

Solartech International Holdings Ltd:Proposes to raise about HK$189 million, before expenses, by way of open offer of 1,574,878,250 offer shares at the subscription price of HK$0.12 per offer share on the basis of five offer shares for every one existing share held on the record date.It intends that the gross proceeds from the open offer will be about HK$189 million It intends that the estimated net proceeds, after deducting the underwriting commission of 2.5 pct on gross proceeds and other expenses in connection with the open offer, are about HK$183 million.It intends to used as to about HK$40 million for the developing a parcel of land situated on the Santai Industrial Zone; about HK$30 million for renovation of two factories owned by the group in Changping Town, Dongguan City; about HK$60 million for the repayment of short term loans; and.The remaining proceeds of about HK$53 million for general working capital of the group. 

Company Quote

0.0030 +3.95%
8:44pm EST