Capital Estate (HKG:0193) agreed to place 38,865,000 new shares to at least six investors at HK$0.267 apiece to raise gross proceeds of HK$10.4 million, a Thursday Hong Kong bourse filing said.
The shares represent approximately 16.67% of the hotel operator's enlarged issued share capital.
The firm will use the proceeds for its operations, business, and general working capital.
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