BUZZ-Shoucheng rises on fund raise for stores, business expansion
Reuters
Sep 04
BUZZ-Shoucheng rises on fund raise for stores, business expansion
** Shoucheng Holdings 0697.HK rises 3.5% to HK$2.38; set for fourth straight session of gains
** Robotics industry investor plans sale of 276.5 mln shares, or 3.37% of enlarged share capital, to third party investors via placement to raise HK$600 mln ($76.8 mln)
** Funds will be used to roll out technology experience stores, expanding new business lines
** Issued price of HK$2.17 represents 5.65% discount to last close
** YTD, Stock surges 124.5%
($1 = 7.8113 Hong Kong dollars)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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