WK Group's (HKG:2535) controlling shareholder WK (BVI) completed the placement of 480 million, or 24% shares of the company to at least six investors at HK$0.25 apiece, a May 2 Hong Kong bourse filing said.
WK (BVI)'s shareholding in the Hong Kong-based structural steelwork contractor has been reduced to 1.02 billion, or 51%, shares. WK (BVI) will remain a controlling shareholder.
WK Group's Chairman Chan Wing Hong holds a 15% stake in WK (BVI).
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