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Jia Meng Holdings Ltd Announces Listing On Growth Enterprise Market Of Stock Exchange Of Hong Kong Limited By Way Of Placing


Thursday, 10 Oct 2013 06:05pm EDT 

Jia Meng Holdings Ltd announced that the Placing Price of the Offering is HKD1.15 per Placing Share (excluding brokerage fee of 1%, SFC transaction levy of 0.003% and Stock Exchange trading fee of 0.005%). The net proceeds to be received by the Company from the Placing are estimated to be approximately HKD13.5 million. The 30,000,000 Shares offered by the Company under the Placing were moderately oversubscribed and have been conditionally allocated to a total of 152 selected individual, professional and institutional investors. The Directors intend to apply the net proceeds from the Placing as follows: approximately HKD4.6 million, representing approximately 34.1% of the estimated net proceeds, for constructing new production facility; approximately HKD3.2 million, representing approximately 23.7% of the estimated net proceeds, for participating in overseas trade fairs; approximately HKD2.4 million, representing approximately 17.8% of the estimated net proceeds, for production design, research and development and hire of new designer; approximately HKD2.0 million, representing approximately 14.8% of the estimated net proceeds, for entering into distributorship arrangement with its specialty retailers and promote the Group’s brand image and products with them; and approximately HKD1.3 million, representing approximately 9.6% of the estimated net proceeds, for the general working capital use of the Group. 

Company Quote

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27 Nov 2014