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China Ocean Shipbuilding to raise $7.3m
China Ocean Shipbuilding is issuing new shares in a bid to raise around HKD56.61m ($7.29m) to repay debts.
Four Chinese investors are buying 530m shares at a price of HKD0.107 each, representing a discount of 17.69% to the closing price of HKD0.13 on the last trading day on the Hong Kong Stock Exchange.
The 530m subscription shares represent approximately 11.77% of the issued share capital of the company as enlarged by the subscription shares.
“The company intends to apply the net proceeds from the subscriptions as repayment of debts and general working capital of the group,” China Ocean Shipbuilding said in a statement.
“The board considers that the subscriptions will further strengthen the capital base and financial position of the company for the group's future business developments.”
Source: Seatrade Global
Four Chinese investors are buying 530m shares at a price of HKD0.107 each, representing a discount of 17.69% to the closing price of HKD0.13 on the last trading day on the Hong Kong Stock Exchange.
The 530m subscription shares represent approximately 11.77% of the issued share capital of the company as enlarged by the subscription shares.
“The company intends to apply the net proceeds from the subscriptions as repayment of debts and general working capital of the group,” China Ocean Shipbuilding said in a statement.
“The board considers that the subscriptions will further strengthen the capital base and financial position of the company for the group's future business developments.”
Source: Seatrade Global
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