ITC Corporation issues 105 mln shares by top up placing

ITC Corporation (0372) declared that the Galaxyway Investment Limited held by 
its leading shareholder Chen Guo Qiang placed 68.5 mln old shares of ITC
 Corporation at HK$0.6 each to 6 investors and subscribed the 105 mln new
 shares at the same price to raise HK$63 mln. The placed shares and subscribed
 shares represented 10.86% and 16.64% of the expanded shares, while the placing
 price registered a discount of 14.3% over the closing price of HK$0.

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