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Noble Century Investment Holdings Limited Announces Placing Of New Shares Under General Mandate


Friday, 30 Aug 2013 10:48am EDT 

Noble Century Investment Holdings Limited announced that on August 30, 2013 (after trading hours), the Kingston Securities Limited (Placing Agent) and the Company entered into the Placing Agreement pursuant to which the Placing Agent agreed to place up to 120,000,000 Placing Shares to currently expected not less than six Placees who are Independent Third Parties. The aggregate nominal value of the Placing Shares under the Placing will be HKD6,000,000. The Placing Price of HKD0.28 represents a discount of approximately 19.31% to the benchmarked price of the Shares, which is the higher of the closing price of HKD0.32 as quoted on the Stock Exchange on the date of the Placing Agreement; and the average closing price of HKD0.347 in the last 5 trading days prior to the date of the Placing Agreement. The gross proceeds from the Placing will be approximately HKD33.6 million. The net proceeds from the Placing will amount to approximately HKD32.6 million which is intended to be used as to HKD15 million for repayment of loans and the remaining of approximately HKD17.6 million for general working capital of the Group. The net price raised per Placing Share will be approximately HKD0.272 per Share. 

Company Quote

0.075
-0.0010 -1.32%
3:58am EDT