China Kangda Food Co (SG:P74) has released an update.
China Kangda Food Co. has successfully completed the placement of 20 million new shares, raising gross proceeds of HK$5 million, to be used for general working capital and to strengthen the company’s financial position. The shares were placed at HK$0.25 each, representing approximately 4.42% of the enlarged issued share capital. The independent placee, Tongfan Capital Investment, is owned by Hong Kong permanent resident Mr. Lin Tong.
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