[ET Net News Agency, 4 October 2019] China Minsheng Financial Holding Corporation
Limited (00245) said it has conditionally agreed to place up to an aggregate of 5.79
billion placing shares at a placing price of HK$0.085 per placing share to not less than
six placees.
The maximum number of 5.79 billion placing shares represent approximately 16.67% of the
issued share capital of the company as enlarged by the allotment and issue of the placing
shares. The placing price of HK$0.085 per placing phare represents a discount of
approximately 5.56% to the closing price of HK$0.09 per share on the date of the placing
agreement.
Assuming all the placing shares are fully placed, the gross proceeds will be
approximately HK$491.79 million. The net proceeds are estimated to be approximately
HK$486.87 million. The company intends that the net proceeds will be utilised for general
working capital and for funding investment opportunities. (RC)