Kwong Luen Engineering Adjusts Share Placement Price

Kwong Luen Engineering Holdings Limited (HK:1413) has released an update.

Kwong Luen Engineering Holdings Limited announced a supplemental agreement to the earlier announced share placement which will see the placing price of their new shares increase from HK$0.180 to HK$0.185. This adjusted placing price represents a significant premium over the recent closing prices on the Stock Exchange. The company expects to raise a maximum net proceeds of approximately HK$35.6 million from the placement, aiming to bolster the group’s general working capital.

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