China Wood International Holding (HKG:1822) generated HK$44.6 million in net proceeds as the rights issue was oversubscribed by 39.08%, according to a filing with the Hong Kong bourse on Monday.
Investors applied for 571.9 million shares, exceeding the 411.2 million available. Shareholder Right Momentum's stake remains at 54.98%.
The trading materials firm's shares were down 6% in recent trading.
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