China Supply Chain Holdings (HKG:3708) raised HK$13.5 million in net proceeds by issuing 1.12 billion subscription shares to Qingda Horizontal Holding Group and Li Kwok Fan at HK$0.0121 apiece, a Monday Hong Kong bourse filing said.
The company had previously agreed to issue 670.6 million shares to Qingda Horizontal Holding Group and 448.2 million to Li Kwok Fan, the total to-be-issued shares represent 16.67% of the enlarged issued share capital.
The company plans to use HK$9.5 million of the net proceeds for its general working capital and the remainder for potential investments in new projects.
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