China Uptown (HKG:2330) looks to raise net proceeds of up to about HK$6.2 million from the placement of a maximum of 61,064,000 shares at HK$0.105 apiece, a Tuesday filing with the Hong Kong bourse said.
The shares represent roughly 16% of the property developer and raw sugar trader's enlarged issued share capital.
The firm will use placement proceeds for general working capital.
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