Tai Ping Carpets rights issue subscription insufficient

Tai Ping Carpets International (0146) announced that the subscription rate of the rights issue was only 83.5%. Therefore, Holmium which holds 47.4% shares in Tai Ping Carpets International and the acting-in-concert persons have exercised underwriting and over-subscribed 1.008 mln shares. After the move, Holmium and the acting-in-concert persons would increase the shareholding from 47.2% to 53.3%.

Tai Ping Carpets International suggested in mid-April that not less than 67.67 new shares should be issued in 1-for-2 proportion to raise HK$102 mln.

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