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FINWIRES

Da Sen to Raise Nearly HK$53 Million via Share Placement

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Da Sen (HKG:1580) agreed to place 219.1 million new shares at HK$0.241 each, with net proceeds expected at about HK$52.2 million, according to a Sept. 18 Hong Kong bourse filing.

The placing price represents a 19.7% discount to the Sept. 18 closing price of HK$0.300.

The shares will account for 20% of the company's existing issued share capital and 16.67% of its enlarged share capital.

The company plans to use the net proceeds to repay existing indebtedness, with the balance allocated to general working capital and business development.

What else is happening in Asia?

Asia

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TYO:9984
Asia

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SHA:688036
Asia

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SHA:601825