Eminence Enterprise (HKG:0616) agreed to place up to 115.9 million shares to at least six investors at HK$0.32 apiece to raise net proceeds of HK$36.7 million, according to a Friday Hong Kong bourse filing.
The shares represent approximately 6.21% of the property developer's enlarged issued share capital.
The firm intends to use proceeds to repay bank loans under the revised terms for refinancing its existing bank loans.
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