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KINGBOARD HLDG Plans to Place KB LAMINATES Shares at 8.7% Discount, Raising $2.7B+
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KB LAMINATES (01888.HK) announced before the market bell this morning (18th) that its parent, KINGBOARD HLDG (00148.HK), plans to place up to 130 million ordinary shares of KB LAMINATES at a price of HKD21 per share, a discount of around 8.7% to yesterday's closing price. This placement is expected to raise around HKD2.73 billion. Upon completion, KINGBOARD HLDG will directly and indirectly hold an interest in over 2.099 billion shares, reducing its stake in KB LAMINATES's issued share capital from the previous 71.1% to 66.95%. KINGBOARD HLDG has agreed to an undertaking not to dispose of any more KB LAMINATES shares from the date of the block trade agreement until 90 days after completion of the placing. AAStocks Financial News |
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