Asia
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.
HKG:1340
