Asia
Beijing Sports and Entertainment Agrees to HK$20 Million Share Sale
Beijing Sports and Entertainment Industry Group (HKG:1803) agreed to sell shares representing nearly 17% of the business to an investor identified as Liu Hai, according to a Tuesday filing with the Hong Kong bourse.The firm will issue 281.6 million shares priced at HK$0.073 each for HK$20.6 million in gross proceeds.The shares represent 20% of the company's issued share capital and 16.67% as enlarged by the sale.Net proceeds of HK$20.5 million from the share sale will be used for the company's existing money lending business and to expand its presence overseas.
HKG:1803
