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CHUNG BAO NEW MATERIALS (02439.HK) Places Shares at 20% Discount, Raises 45.6M
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CHUNG BAO NEW MATERIALS (02439.HK) announced a placement of up to 200 million new shares, representing 16.67% of its enlarged share capital. The placing price is HKD0.228 per share, representing a 20% discount to today's (1st) closing price. Gross proceeds amount to HKD45.6 million, with net proceeds of HKD45.4 million. The company intends to use the net proceeds for procurement of production materials, research and development of new products, and expansion of its product offerings. (de/d) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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