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Beijing Xunzhong Raises HK$313.6 Million from Share Placement

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Beijing Xunzhong Communication Technology (HKG:2597) completed the placing of nearly 11.2 million shares to raise net proceeds of HK$313.6 million.

The shares, representing roughly 8.42% of the company's enlarged issued share capital, were places to at least six investors at HK$28.20 apiece, a Thursday bourse filing showed.

The cloud communications solutions provider will use proceeds for R&D and infrastructure development needs, procurement, talent acquisition, expansion and cooperation, and general working capital.

What else is happening in Asia?

Asia

Market Chatter: China Airlines Plans Codeshare Partnership with Britain's Virgin Atlantic

China Airlines (TPE:2610) plans to launch codeshare partnership with Britain's Virgin Atlantic Airways, according to a Focus Taiwan report on Wednesday, quoting the airlines' president Kevin Chen.Initially, China Airlines, and Virgin Atlantic will share flight codes on each other's services and will subsequently tap into complementary route networks to faciliate better flight services between Taiwan and the UK, Chen said.China Airlines' sahares were up over 1% in Thursday's trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TPE:2610
Asia

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TPE:1314
Asia

Lotus Pharmaceutical's Unit to Reduce Capital by $70 Million

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TPE:1795