China Rare Earth (HKG:0769) completed the sale of 48,750,000 shares at HK$0.32 apiece to Double Bay Capital as of Thursday, May 8, according to a same-day filing with the Hong Kong bourse.
The sale, first announced in April, saw net proceeds of HK$15.5 million, according to an April 16 filing.
The shares are equivalent to 2% of the share capital of China Rare Earth.
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