Asia
China Ruifeng Renewable Energy Eyes HK$185.7 Million from Share Placement; Shares Slide 5%
China Ruifeng Renewable Energy (HKG:0527) agreed to place between 80 million and 342.9 million shares to raise net proceeds of HK$185.7 million, according to a Tuesday Hong Kong bourse filing.Shares of the wind farm operator were down nearly 5% in Wednesday afternoon trading.The shares, which will be placed to at least six investors at a net issue price of HK$0.54 apiece, represent 16.67% of the company's enlarged issued share capital.The company will use proceeds for future development and replenishment of general working capital.
HKG:0527
