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China Wood International Raises HK$74 Million from Rights Issue

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China Wood International (HKG:1822) raised net proceeds of HK$74 million from its recently concluded rights issue, according to a Monday disclosure.

The trading materials firm received 19 applications for a little over 580.3 million rights shares, representing 58.8% of the 986.9 million rights shares allocated for the deal.

The remaining 406.6 million rights shares were placed to at least six investors at HK$0.077 apiece.

Dealings in the newly issued rights shares are expected to begin on Sept. 16, Wednesday.

The company will use proceeds for the R&D of its food and beverage offerings, marketing and promotion activities for food and beverage and wood-related business wings, and working capital.

What else is happening in Asia?

Asia

Orora Chief Safety, Sustainability, Governance Officer to Step Down at End of Year

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ASX:ORA
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Biokin Pharma Enrolls First Patient in Phase Three Trial for Breast Cancer Drug; Shares Up 4%

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SHA:688506
Asia

Market Chatter: Korea Exchange to Extend Trading Hours till 8PM

South Korea's main stock market, the Korea Exchange, will enable trading till 8 pm following the regular close at 3:30 pm from Monday, in its move toward 24-hour trading, Bloomberg News reported Sunday.This decision opens 2,400 Korea Composite Stock Price Index, or Kospi, and Kosdaq stocks for evening trades, which include short-selling. The move excludes exchange-traded funds, the report said.The Korea Exchange plans to introduce pre-market trading by the end of next year, it said.(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.)

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