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Provider : Thomson Reuters Stock Report

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Legend Strategy International Holdings Group Co Ltd announces placing of new shares under general mandate

Friday, 25 Jul 2014 12:08am EDT 

Legend Strategy International Holdings Group Co Ltd:Enters into placing agreement with placing agent whereby the company agreed to place, through the placing agent, on best effort basis, maximum of 43,500,000 new shares to not less than six placees at a price of HK$0.79 per placing share.Maximum of 43,500,000 placing shares represent about 19.93 pct. of issued share capital of the company of 218,270,001 shares.Aggregate nominal value of maximum number of placing shares under placing will be HK$435,000.Maximum gross proceeds and net proceeds from placing will be about HK$34.4 mln and HK$33.3 mln respectively.Net placing price will be about HK$0.77 per share.Net proceeds from placing are intended to be used for repayment of liabilities and general working capital of the company.