Kwong Luen Engineering Holdings Limited (HK:1413) has released an update.
Kwong Luen Engineering Holdings Limited has engaged Evergreen Securities Limited as a placing agent to manage the issuance of 200 million new shares, priced at HK$0.180 each, potentially raising gross proceeds of HK$36 million. This represents a 20% addition to the current shares in issue and is intended to bolster the company’s working capital. Investors are advised to exercise caution as the placing is conditional and subject to the fulfilment of the Placing Agreement’s terms.
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