Country Garden Services to raise HK$1.94b

Business | 11 Jan 2019 1:51 pm

Country Garden Services (6098) has announced to raise approximately HK$1.94 billion from placing existing shares and subscription of new shares.

Approximately 6.32 percent of the issued share capital of the company is enlarged by the subscription.

The Company intends to apply approximately 70 percent for mergers and acquisitions to expand geographical coverage and service scope within its core businesses or related businesses, and as to approximately 30 percent for technologies investment, urban services and value-added services new business development.

The subscription price per new share is equivalent to the placing price of HK$11.61 per share.

The net price of the subscription is HK$11.49 per Share.

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