China Wood International (HKG:1822) agreed to place up to around 164.5 million shares to at least six investors at HK$0.10 apiece to raise maximum net proceeds of HK$16.3 million, a Tuesday Hong Kong bourse filing said.
The shares represent approximately 16.66% of the materials trader's enlarged issued share capital.
The firm will use proceeds from the placement to further develop its food and beverage business segment.
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