Q Technology (Group) (HKG:1478) agreed to subscribe for an additional 20 million shares of its associate Newmax Technology (TPE:3630) in a private placement for 94.1 million yuan at 4.7 yuan apiece, a Wednesday Hong Kong bourse filing said.
The shares to be subscribed represent 9.8% of the total number of issued shares of Newmax Technology.
After the completion of the placement, the company will be interested in about 41.8% of the total number of issued ordinary shares of Newmax Technology.
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