Global Sweeteners (HKG:3889) agreed to allot and issue a total of 41 million shares to six subscribers at HK$0.1 apiece to raise net proceeds of HK$4 million, a Dec. 20 bourse filing said.
The shares represent around 2.12% of the corn sweetener manufacturer's enlarged issued share capital.
The company will use proceeds from the issue to repay other payables due to the equipment supplier of its Jinzhou production site in China and for general administration expenses.
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