JTF International (HKG:9689) agreed to issue up to 186 million new shares under a placement agreement to raise net proceeds of HK$126.3 million, according to a Friday Hong Kong bourse filing.
The shares, representing 16.67% of the petrochemical company's enlarged issued share capital, will be issued to at least six investors at HK$0.694 apiece.
The firm will use 90% of the proceeds to boost its trading capacity in China and 10% for general working capital.
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