China International Development Corporation Limited (HK:0264) has released an update.
China International Development Corporation Limited has announced a new placement of up to 40 million shares at HK$0.90 each, a discount of approximately 10-13% from recent closing prices, aiming to raise up to HK$36 million in gross proceeds. The shares represent about 9.69% of the existing issued share capital, and the placement is contingent on certain conditions being met. Investors are advised to be cautious when dealing with these shares, as the placement may not proceed as planned.
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