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HKG:1822

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Asia

China Wood International Raises HK$74 Million from Rights Issue

China Wood International (HKG:1822) raised net proceeds of HK$74 million from its recently concluded rights issue, according to a Monday disclosure.The trading materials firm received 19 applications for a little over 580.3 million rights shares, representing 58.8% of the 986.9 million rights shares allocated for the deal.The remaining 406.6 million rights shares were placed to at least six investors at HK$0.077 apiece.Dealings in the newly issued rights shares are expected to begin on Sept. 16, Wednesday.The company will use proceeds for the R&D of its food and beverage offerings, marketing and promotion activities for food and beverage and wood-related business wings, and working capital.

HKG:1822
Asia

China Wood's Rights Offering Undersubscribed

China Wood International Holding (HKG:1822) has disclosed that its latest rights offering of nearly 987 million shares was undersubscribed by 41%, according to a bourse filing from Monday.The remaining 406.6 million unsubscribed shares will now be sold through a placing agent, the company said.Shares not sold by the agent will be cancelled, and the rights offering size will be adjusted accordingly.

HKG:1822
Asia

China Wood International Proposes One-for-One Rights Issue

China Wood International (HKG:1822) proposed a non-underwritten one-for-one rights issue to raise up to about HK$76 million through the issuance of up to 986.9 million rights shares.Eligible shareholders will be offered one rights share for every existing share held at HK$0.077 per share, according to Hong Kong bourse filing. The company expects net proceeds of about HK$74 million after expenses.

HKG:1822
Asia

China Wood International Unit to Sell Holder of Wood Products Company; Shares Slip 4%

China Wood International (HKG:1822) unit Fame Steps agreed to sell Asia Pacific Forestry Development (HK) to Yang Lei for HK$100,000, according to a Thursday Hong Kong bourse filing.Shares of the trading materials firm were down nearly 4% in Friday afternoon trading.The target engages mainly in investment holding and owns Qingdao Jinhuifeng Wood Industry, which engages in the processing and distribution of wood products.The disposal will allow the company to optimize its business structure by selling the lower-margin pine/fir wood processing and distribution wing.

HKG:1822

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