China Fortune (HKG:0110) agreed to allot and issue 16 million shares to Lei Yongjia and Cheung Ha for HK$4.2 million, or at HK$0.26 apiece, a Wednesday Hong Kong bourse filing said.
The shares to be issued represent about 6.3% of the enlarged issued share capital of the company.
The company will apply to the stock exchange for the listing of the said shares and the permission to deal in them.
The company plans to use the net proceeds of HK$4.1 million towards its general working capital.
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