Asia
China New Energy to Raise Nearly HK$20 Million via Share Placement
China New Energy (HKG:1156) plans to raise about HK$19.6 million in net proceeds through a share placement, according to a Thursday Hong Kong bourse filing.The company agreed to place up to 118 million new shares at HK$0.173 each to no fewer than six independent investors on a best-efforts basis.The placing shares represent about 20% of the company's existing issued share capital and nearly 16.7% of its enlarged share capital.Net proceeds will be used to replenish the company's general working capital.
HKG:1156
