Town Health to raise 21 mln hkd in net proceeds from top-up share placement

HONG KONG (AFX-ASIA) - Town Health International Holdings Co Ltd said it will raise 21 mln hkd in net proceeds from a top-up share placement.	    In a statement, Town Health said its controlling shareholder Origin Ltd will place 50 mln existing Town Health shares at 0.45 hkd each and then subscribe to the same amount of Town Health new shares after the share placement.	    Town Health said the placing price of 0.45 hkd represents a discount of about 10 pct to Town Health's closing share price on May 2.	    Town Health said the company will use the proceeds to invest in bio-medical projects and research and development for advanced diagnostic medical equipment. After the top-up share placement, Origin will hold a 43.66 pct stake in Town Health, compared with the current 49.12 pct.	    Town Health said it has requested that trade in its shares on the GEM board resumes today. 

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