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Aurum Pacific (China) Group Ltd Announces Open Offer Of 400,000,000 Offer Shares At HKD0.15 Per Offer Share


Friday, 1 Feb 2013 12:24am EST 

Aurum Pacific (China) Group Ltd announced that the Board proposed to raise approximately HKD60 million (before expenses) by way of Open Offer of 400,000,000 Offer Shares at the Subscription Price of HKD0.15 per Offer Share on the basis of four Offer Shares for every one Consolidated Share held by the Qualifying Shareholders on the Record Date subject to the Share Consolidation becoming effective. The Open Offer will be fully underwritten by the Underwriter. The gross proceeds of the Open Offer is HKD60 million. After payment of the fees for Acquisition and Open Offer of approximately HKD2.5 million and HKD3.9 million respectively (of which HKD3 million has been and will be settled using the Working Capital Loan), the net proceeds from the Open Offer of approximately HKD56.6 million will be applied as follows: approximately HKD24 million for the settlement of the balance of the consideration of the Acquisition; approximately HKD13.7 million for the repayment of other borrowings of approximately HKD6.7 million and the Working Capital Loan of approximately HKD7 million (As at the Latest Practicable Date, the Working Capital Loan has been drawn down in the amount of approximately HKD5 million); and as to the remaining approximately HKD18.9 million for future working capital for the Group and any acquisitions or investments that the Group may decide to pursue after Resumption. 

Company Quote

0.85
-0.09 -9.57%
19 Aug 2014