China Zhengtong Auto Services Holdings (HK:1728) has released an update.
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China ZhengTong Auto Services Holdings Limited has announced the conditional subscription of 479,888,000 new shares by two independent third-party subscribers at HK$0.125 per share, representing approximately 14.34% of the enlarged issued share capital. The deal, set for completion post-trading hours on 25 July 2024, aims to raise about HK$59.99 million in gross proceeds to repay bank loans. However, the completion is contingent on certain conditions being met, and shareholders are cautioned to trade carefully.
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