China Wood International Holding Co., Limited (HK:1822) has released an update.
China Wood International Holding Co., Limited has initiated a placement of new shares, aiming to issue up to 68.5 million shares at a discounted price of HK$0.226 each, which is below the recent average closing rates. The proceeds, estimated to reach around HK$15.2 million net, will be allocated primarily towards debt repayment and general working capital. Shareholders are advised to be cautious as the placement’s completion is contingent on certain conditions being met.
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