FDB Raises HK$39.9 Million from Share Placement

MT Newswires Live

02/11

FDB Holdings (HKG:1826) completed the placing of 266.4 million shares to at least six investors at HK$0.153 apiece to raise net proceeds of HK$39.9 million, according to a Wednesday Hong Kong bourse filing.

The shares represent around 16.67% of the enlarged issued share capital.

The firm will use proceeds to expand and upgrade its headquarters, for director and staff salaries to support expansion and operations, to cover the existing shareholders' deficit, and for professional fees and operating expenses.

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