LC Logistics Nets HK$137.5 Million via Share Placement

MT Newswires Live

06/23

LC Logistics (HKG:2490) completed the placement of 42.2 million new shares at HK$3.30 apiece, raising net proceeds of about HK$137.5 million, according to a Monday Hong Kong bourse filing.

The company said about HK$123.8 million of the proceeds will be used for potential acquisitions, including minority investments in financial-sector companies and acquisitions of logistics-related businesses with operational synergies.

The remaining will be used for general working capital.

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