China Shenghai Group Limited (HK:1676) has released an update.
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China Shenghai Group Limited, formerly known as Gaodi Holdings Limited, has successfully completed the placement of 10,010,000 new shares, which constitutes about 6.50% of its enlarged issued share capital. The placement, executed at HK$1.40 per share, has raised gross proceeds of approximately HK$14.01 million. These funds, with net proceeds of around HK$13.6 million after expenses, are earmarked for the group’s food business development, to be fully utilized by June 2025.
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