China Wood International Raises HK$16.27 Million in Share Placement
Reuters
Yesterday
China Wood International Raises HK$16.27 Million in Share Placement
China Wood International Holding Co. Ltd. has announced the completion of a placing of new shares under a general mandate. The company raised approximately HK$16.27 million in net proceeds, issuing 164,460,000 new shares at a net price of about HK$0.099 per share. The funds will be used to further develop the Group's food and beverage business segment. Following the placing, Mr. Lyu NingJiang's shareholding decreased from 54.98% to 45.82%, while the new placees now hold 16.66% of the company's enlarged share capital. None of the placees became substantial shareholders as a result of the transaction.
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