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2020-07-03 12:14:40
CMMB VISION (00471) to place shares for $22.71M

(Infocast News) CMMB Vision Holdings Limited (00471) has agreed to place 45,412,879 new shares for an aggregate consideration of HK$22.71 million at the subscription price of HK$0.5 per share representing a premium of 9.89% on a closing price on 2 July.

The subscription shares represent 16.67% of its enlarged share capital.

The company intends to use the net proceeds raised from the issue of the subscription shares for repayment of advance from shareholders and to strengthen the general working capital.

(WL)