Asia
Da Sen to Raise Nearly HK$53 Million via Share Placement
Da Sen (HKG:1580) agreed to place 219.1 million new shares at HK$0.241 each, with net proceeds expected at about HK$52.2 million, according to a Sept. 18 Hong Kong bourse filing.The placing price represents a 19.7% discount to the Sept. 18 closing price of HK$0.300.The shares will account for 20% of the company's existing issued share capital and 16.67% of its enlarged share capital.The company plans to use the net proceeds to repay existing indebtedness, with the balance allocated to general working capital and business development.
HKG:1580
