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Instant noodle maker Uni-President plans $423 mln rights issue
May 12, 2014 / 12:35 AM / 4 years ago

Instant noodle maker Uni-President plans $423 mln rights issue

HONG KONG, May 12 (Reuters) - Instant noodle and beverage maker Uni-President China Holdings Ltd plans to raise about HK$3.28 billion ($423 million) in a rights issue, raising capital to repay loans and for working capital.

Hong Kong-listed Uni-President, which is the China arm of Taiwan food and beverage conglomerate Uni-President Enterprises Corporation, aims to sell 719.9 million rights shares, offering one rights share for every 5 shares held at HK$4.56 apiece, it said in a filing to the Hong Kong bourse late on Sunday.

The issue price represents a 29.6 percent discount to the shares’ previous close. BNP Paribas and JPMorgan are the joint underwriters of the issue.

$1 = 7.7517 Hong Kong Dollars Reporting by Donny Kwok; Editing by Edwina Gibbs

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