Chaowei Power (00951) said it agreed to place 132 million shares at HK$4.48 per share, representing a discount of about 17.8% to the closing price of HK$5.45.
The subscription shares represent around 10.65% of the enlarged issued share capital of Chaowei Power.
The estimated net proceeds of about HK$591 million will be used as general working capital of the Group.
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