China Zenith Chemical Group (HKG:0362) agreed to terminate its placement of 600 million shares to at least six independent investors at HK$0.1 apiece, citing recent market conditions and its shares' trading prices, a Friday bourse filing said.
The chemical company was looking to raise the capital through the placement representing 30.74% of its enlarged issued share capital to repay debt and interest expenses and for general working capital.
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