China Kangda Food Co (SG:P74) has released an update.
China Kangda Food Co has announced a placement of new shares, aiming to raise approximately HK$21.6 million in gross proceeds with a net of about HK$21.5 million, priced at a premium of 25% over the closing stock price on the date of the agreement. The placement will increase the company’s issued share capital by approximately 16.67% and does not require further shareholder approval. However, the completion of this placement is contingent on certain conditions, urging shareholders and potential investors to exercise caution.
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