Kong Sun Holdings spends HK$20 mln acquiring 22.5% Lotus Sea

Kong Sun Holdings (0295) announced to acquire 22.5% shareholding of Lotus Sea Holdings through its subsidiary Count Wealth Investment for HK$20 mln. 

Kong Sun will acquire 338 old shares and 1912 new shares of Lotus Sea, which represented 22.5% of the enlarged shares capital. The consideration of the old shares will be financed by HK$3 mln cash and the new shares will be financed by issuing 85 mln new shares at HK$0.2 each, 9.9% discount to the closing price of HK$0.222 on June 27. The issued shares account for 8.23% of the enlarged shares capital.

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