BRIEF: Shoucheng plans $77 million share placement
Smart infrastructure asset management services provider Shoucheng Holdings Ltd. (0697.HK), said on Thursday it will sell 276 million new shares for HK$2.17 apiece in a top-up placement. The transaction represents 3.37% of its enlarged share capital and will raise HK$600 million ($76.9 million).
The placement price represents a 5.65% discount to Wednesday’s closing price of HK$2.30 per share, though it’s 5.65% higher than the five-day average closing price of HK$2.05.
The company plans to use HK$418 million to fund about 20 recently launched tech experience stores and for investment in new ventures in the field of asset operations. Most of the remainder will be used for general working capital.
Shares of Shoucheng opened down 0.4% at HK$2.29 on Thursday. The stock has doubled since the beginning of this year.
By Lau Chi Hang
To subscribe to Bamboo Works weekly free newsletter, click here
Related Articles
RELATED ARTICLES
-
Shoucheng sheds ‘old economy’ label with robotic pivot
0697.HK -
BRIEF: Lopal Tech raises $15 million in share placement
2465.HK
-
BRIEF: Riding high, Jay Chou-linked Star Plus raises $43 million in share placement
6683.HK
-
BRIEF: Kelun-Biotech raises $250 million through share placement
6990.HK
-
BRIEF: Fourth Paradigm to raise $107 million in share placement
6682.HK
-
BRIEF: Dmall raises $50 million in share placement at 10% discount
2586.HK
-
BRIEF: Shanghai XNG raises $1 million in discounted share placement
3666.HK
