E-LIFE places 3 bln new shares and controlling shareholding changes hand

E-LIFE International (0370) announced to place 2.256 new shares to Best Chance at HK$0.05 each and place 744 mln new shares to independent investors at the same price to raise HK$150 mln. 

The placing price has 76.74% discount to the closing price before suspension of yesterday and the raised capital will be used for operation funds. 

After the placement, Best Chance will become the biggest shareholder, who has 56% shareholding of the enlarged share capital and the new shares placed to the independent investors account for 18.5%. On the other hand, the shareholding held by Pak Chung, chairman of E-LIFE International, decreased from 35.7% to 9.1% and the shareholding held by the public decreased from 58.4% to 33.4%.

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