China Foods raises HK$237m and purchases candy trading company at HK$708m

A market source said that China Foods Holdings (0506) planned to issue 120 mln new shares at HK$1.975 each to raise HK$237 mln through the top up placing.

The placing price was 6.3% discount of the closing price of HK$2.1 yesterday, while the placed shares represented 8.1% of the expanded stocks, with BNP and HSBC Securities as the underwriters. The raised fund would be used to purchase a candy trading company.

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