China Kingstone Mining to Raise Over HK$3 Million via Share Subscription
MT Newswires Live
Sep 29
China Kingstone Mining (HKG:1380) said it agreed to issue 19.1 million new shares at HK$0.185 each to an independent subscriber, raising net proceeds of about HK$3.46 million, according to a Sept. 26 filing.
Shares of the firm gained over 1% in Monday's late morning trade.
The subscription price represents a 5.7% premium to the last closing price, and the shares will account for 5.2% of the existing share capital and 4.9% after issuance.
The company said the net proceeds will be used as general working capital.
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