HKG:1340

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Huisheng International to Raise HK$5 Million via Share Subscription; Shares Jump 9%

Huisheng International Holdings (HKG:1340) plans to issue 11 million new shares at HK$0.48 each to two independent third-party subscribers, according to a Tuesday filing with the Hong Kong bourse.The shares represent 7.95% of the company's existing share capital and 7.36% of the enlarged share capital upon completion. The subscription price is in line with the Sept. 15 closing price.The company expects net proceeds of about HK$5.10 million, which will be used as general working capital, including repayment of indebtedness.Shares of the firm were up over 9% in Wednesday morning trade.

HKG:1340

Asia118d ago

Huisheng International Announces HK$8.5 Million Share Offering; Shares Jump 46%

Huisheng International Holdings (HKG:1340) announced plans to raise HK$8.5 million via a share offering, according to a Wednesday filing with the Hong Kong bourse.The pork product supplier's shares were up nearly 46% in morning trade on Thursday.The firm plans to sell 184.6 million shares priced at HK$0.046 each to raise funds to expand its frozen meat trading business in Hong Kong.The shares to be sold represent 20% of the company's issued share capital, and 16.67% as enlarged by the offering.Meanwhile, the company's board proposed a share consolidation on the basis of one consolidated share for every eight issued and unissued shares of the firm.The consolidation is subject to shareholder approval.

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