Cocoon Completes Placement of Over 14 Million Shares for HK$4.2 Million

Cocoon Holdings (HKG:0428) has raised about HK$4.2 million through the placement of 14,158,848 shares, according to a Wednesday filing with the Hong Kong bourse.

The placement price per share was HK$0.300. The newly placed shares will account for up to 16.67% of the company's enlarged share capital.

About HK$3.7 million will be invested in securities, while the remaining proceeds will be used for general business needs.

The investment company's shares were up by over 4% in recent trading,

Price (HKD): $0.69, Change: $+0.030, Percent Change: +4.55%