China Next-Gen Commerce and Supply Chain (HKG:3928) agreed to place up to 16 million shares to at least six investors at HK$8.88 apiece to raise net proceeds of HK$140.8 million, according to a Tuesday Hong Kong bourse filing.
The shares represent approximately 3.23% of the construction services company's enlarged issued share capital.
The firm will use proceeds for general working capital, as well as the repayment of debt.
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