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Provider: Thomson Reuters Stock Report
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Provider: KGI Greater China
$46.00
Provider: KGI Greater China
$35.00

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China Fiber Optic Network System Group Ltd Announces Placing Of New Shares Under General Mandate


Wednesday, 18 Sep 2013 09:31am EDT 

China Fiber Optic Network System Group Ltd announced that on September 18, 2013 (after trading hours), the Company and the Oriental Patron Securities Limited (Placing Agent) entered into the Placing Agreement, pursuant to which the Placing Agent has conditionally agreed to place up to 240,000,000 new Shares to not less than six independent Placees at a price of HKD1.08 per Placing Share. The maximum gross proceeds from the Placing will be approximately HKD259,200,000. The net proceeds, after the deduction of the placing commission and other related expenses, are estimated to be approximately HKD253,900,000, representing a net issue price of approximately HKD1.058 per Placing Share. The Company intends to use the net proceeds to establish production facilities for product components and as general working capital of the Group. 

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