China Ruifeng Renewable Energy Eyes HK$185.7 Million from Share Placement; Shares Slide 5%
MT Newswires Live
Jun 24
China Ruifeng Renewable Energy (HKG:0527) agreed to place between 80 million and 342.9 million shares to raise net proceeds of HK$185.7 million, according to a Tuesday Hong Kong bourse filing.
Shares of the wind farm operator were down nearly 5% in Wednesday afternoon trading.
The shares, which will be placed to at least six investors at a net issue price of HK$0.54 apiece, represent 16.67% of the company's enlarged issued share capital.
The company will use proceeds for future development and replenishment of general working capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.