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Yi Hua Department Store Holdings Ltd announces listing on main board of stock exchange of Hong Kong Limited by way of placing and public offer


Monday, 9 Dec 2013 05:22pm EST 

Yi Hua Department Store Holdings Ltd:Says the offer price of its public offering has been determined at HK$1.40 per offer share (excluding brokerage of 1 pct, SFC transaction levy of 0.003 pct and the Stock Exchange trading fee of 0.005 pct).Says based on the final offer price of HK$1.40 per offer share, the net proceeds to be received by the company are estimated to be about HK$102 mln after deducting the underwriting fees and other expected expenses payable by the company in relation to the share offer.Says 9.8 pct or HK$10 mln of the total net proceeds will used for newly opened department store in Yangjiang.Says 45.1 pct or HK$46 mln of the total net proceeds will used for opening of new department store in Zhenjiang.Says 29.4 pct or HK$30 mln of the total net proceeds will used for opening of a new department store in Enping.Says 5.9 pct or HK$6 mln of the total net proceeds will used for upgrading the company's existing information and technology systems.Says 9.8 pct or HK$10 mln of the total net proceeds will used for general working capital of the company and other general corporate purposes. 

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