Everbest Century sells 8.8% shareholding to Alletlite to raise HK$24 mln

Everbest Century Holdings (0578) announced to place 600 mln new shares by top up placing to an independent third person Allelite Investment Limited through Century Enterprise Investment, the subsidiary of the chairman of Everbest Century. The placing price is HK$0.04 each and raised capital is HK$24 mln with net proceeds of HK$23.8 mln, which will be used for general operation capital. 

The placing price HK$0.04 has 8.1% discount to the closing price of HK$0.037 before suspension and the new shares account for 8.8% of the enlarged shares capital. After the placement, the shareholding held by Century Enterprise will decrease from 27.92% to 25.66% and the shareholding held by the public will decrease from 72.08% to 66.25%. 

The stock will resume trading today.

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