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CHC Healthcare Proposes Private Placement of Up to 20 Million Shares

-- CHC Healthcare's (TPE:4164) board has proposed a private placement of up to 20 million new shares to strategic investors.

Proceeds will be used to boost working capital, and support future growth, according to a Wednesday Taiwan Exchange filing.

The issue price will be set at no less than 80% of a reference price based on recent market averages, subject to shareholder approval.

The company may carry out the placement in up to three tranches within one year after approval, it added.

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