Part of the proceeds from the placement will be used to settle the final payments for two companies û Sanyuan Foods and Badaling Tourism Development û it acquired from the listed subsidiary last year. The rest will go towards paying down debt.
The shares were priced at the bottom of the HK$16.53 to HK$16.875 offered range, which translated into a 5% discount to Beijing EnterprisesÆ close on Wednesday May 3.
The offered discount of 3-5% was quite low compared with other recent Hong Kong placements, but according...
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