Alpha Professional to Issue 35 Million Shares to Settle Unit's Debt

MT Newswires Live

02/13

Alpha Professional (HKG:0948) said it agreed to issue 35 million shares to settle a part of the HK$12.1 million debt owed by its Willis Trading unit to Allied Group (HKG:0373), according to a Hong Kong bourse filing Thursday.

Shares of the milk powder and food products trader gained over 1% in morning trade Friday.

The shares, which were priced at HK$0.28 each, will settle HK$9.8 million of the total loan and represent 9.28% of Alpha Professional's issued share capital and 8.49% as enlarged by the issue.

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