Star East Holdings raises HK$28.7 mln by placing 205 mln shares

Star East Holdings (0198) announced that it had raised HK$28.7 mln by placing 205 mln new shares to independent investors through agencies. The net proceeds of HK$27 mln be used for general operation capital.The placing price was set at HK$0.14, 7.9% discount to the closing price of yesterday. The placed shares accounted for 19.9% of the existing issued shares. After the placement, the shareholding held by the major shareholder ITC Corporation (0372) will decrease from 18.7% to 14.9%.

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