Xinyang Maojian Group (HK:0362) has released an update.
China Zenith Chemical Group Limited has announced the successful placement of 300 million new shares, priced at HK$0.1 each, resulting in a net proceed of approximately HK$29.4 million. The funds raised will be used to repay the group’s debts and to bolster its working capital. This placement has also altered the company’s shareholding structure, with the placees now holding 22.20% of the enlarged share capital.
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