C&D International to Raise Over HK$1 Billion via Share Placement, Top-Up Subscription

MT Newswires Live

07/23

C&D International Investment (HKG:1908) expects to raise net proceeds of about HK$1.01 billion through a share placement and top-up subscription of 64.6 million shares at HK$15.80 apiece, according to a Wednesday Hong Kong bourse filing.

The placing price represents an 8.88% discount to the last closing price of HK$17.34, and a 5.43% discount to the five-day average of HK$16.71.

While shares represent about 2.97% of the company's issued share capital and 2.88% on an enlarged basis.

Proceeds will be used mainly to repay loans and for general working capital, the filing said.

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