HyComm Wireless raises HK$15 mln through placement

HyComm Wireless (0499) announced that it would place 150 mln new shares to its leading stockholders at HK$0.1 each to raise HK$15 mln. The placing price registered a discount of 27.5% over the closing price of HK$0.138 last Thursday.

The company estimated that the deal can earn a net capital worth HK$14.6 mln, of which HK$13.4 mln would be used for repayment of outstanding bonds issued last year and the remainder of HK$1.2 mln used for operational capital.

The company resumed trading today.

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