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LAOPU GOLD Opens 3.5% Lower after Announcing to Raise Net $2.7B with 4.5% Discounted Shr Placement
Recommend 3 Positive 15 Negative 12 |
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LAOPU GOLD (06181.HK) announced a 4.5% discounted share placement, with its stock price opening 3.52% lower today (22nd) at HKD740. Pre-market trading volume was 31,800 shares, amounting to HKD23.5102 million. LAOPU GOLD had announced the placement of 3.7118 million new H shares, representing approximately 2.59% of the enlarged H share capital and about 2.1% of the total issued shares. The shares are priced at HKD732.49 each, reflecting a discount of about 4.5% compared to yesterday's (21st) closing price of HKD767. The placement was expected to raise net proceeds of approximately HKD2.707 billion, of which 70% will be used for inventory reserves; 10% will be used for the expansion of boutiques, optimization of existing boutiques locations and floor area expansion; and 20% will be used to replenish working capital and for general corporate purposes. AASTOCKS Financial News Website: www.aastocks.com |
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