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FINWIRES

China Treasures New Materials Nets HK$46 Million via Share Placement

-- China Treasures New Materials (HKG:2439) said it raised about HK$45.8 million from a placing of new shares under a general mandate, according to a Wednesday Hong Kong bourse filing.

Shares of the plastic products maker were up over 4% in morning trade on Thursday.

The company placed 200 million new shares to at least six investors, representing about 16.7% of its enlarged share capital.

Proceeds will be used mainly for raw material procurement, product research and development, and marketing, the company said.

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