Riverine China Eyes HK$130 Million Raise via Private Placement
MT Newswires Live
Yesterday
Riverine China Holdings (HKG:1417) is looking to raise a little over HK$130 million in net proceeds through a private placement offering of new shares, according to a Wednesday bourse filing.
The company said it will sell 33 million shares at HK$4.00 each, implying a 14.6% discount to Wednesday's closing price. Proceeds will largely be used for working capital purposes.
Assuming the offering is fully subscribed, the number of issued shares of the company will increase to 438 million from 405 million.
Futu Securities International is acting as the placing agent for the offering.
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