Solartech International places 1.6 bln shares to raise HK$33.6 mln

Solartech International (1166) announced that it would place 1.6 bln shares at HK$0.021 each by the top up placing through the leading shareholder Chau¡¦s Family to raise HK$33.6 mln, of which the net amount of HK$32.42 mln would be used as ordinary operational capital.

The placed shares accounted for 1.22% of the issued shares and 10.09% of the expanded shares, while the placing price of HK$0.021 was the same with the closing price of yesterday.

Its directors said the placement could not only raise fund but expand shareholders base and increase shares as well.

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