Guan Chao Eyes Up to HK$478.1 Million from Share Placement
MT Newswires Live
Jun 02
Guan Chao (HKG:1872) is looking to raise net proceeds of up to about HK$478.1 million from the placement of a maximum of 112.3 million shares to at least six investors at HK$4.30 apiece, a Friday Hong Kong bourse filing said.
The shares represent around 16.67% of the vehicle importer's enlarged issued share capital.
The firm will use proceeds from the placement to develop production lines and procure facilities for manufacturing materials, potentially invest in AIMI Investments, develop its new hair growth product business, enhance working capital, and for marketing initiatives.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.