HKG:0164

China Baoli Technologies Completes Nearly HK$13 Million Share Issue

China Baoli Technologies (HKG:0164) completed the issuance of 38.4 million new shares under a general mandate, according to a Wednesday Hong Kong bourse filing.Shares of the multimedia company gained over 2% in morning trade Thursday.The shares were issued at HK$0.40 each, raising net proceeds of about HK$12.5 million.The shares represent about 11.7% of the company's enlarged issued share capital.Net proceeds will be used for working capital, including funding its dry-grinding and dry-beneficiation projects in Mongolia.