Shareholders of New City Development Group (HKG:0456) will meet July 28 to vote on the proposed issue of 31,334,841 shares to controlling shareholder Han Junran at HK$0.442 apiece, a Thursday Hong Kong bourse filing said.
The firm agreed, on June 18, to issue the shares to set off against a HK$13.9 million shareholder's loan owed to Han.
The shares represent around 18.48% of the property developer's enlarged issued share capital.
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.