China Water Industry (01129) said it agreed to place 266 million new shares to five subscribers at HK$1.88 apiece, representing a discount of about 18.26% to the closing price of HK$2.3.
The subscription shares represent around 16.64% of the enlarged issued share capital of China Water Industry.
The estimated net proceeds of about HK$499 million will be applied as to about 10% for general working capital purpose; and as to about 90% for future business development and investment of the Group.
The subscribers include an indirect wholly-owned subsidiary of China Construction Bank (00939), an indirect subsidiary of China Huarong Asset Management, an indirect wholly-owned subsidiary of Guangzhou Yuexiu Holdings Limited, an unlisted fund managed by Quantum China Asset Management Limited and an indirect wholly-owned subsidiary of Yuxing InfoTech Investment (08005).
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