Oriental Union Places 234 Mln Units of Warrants to Net HK$33 Mln

Oriental Union Holdings Ltd. (1182), a provider of freight and logistics management services, said it will place 234 million units of warrants at 15 HK cents each to raise HK33 million in net proceeds as general working capital. The warrants, which are exercisable until March 2004, entitle holders to subscribe for new shares of the company at 50 HK cents each, representing a 2.04 percent premium to the stock's closing of 49 HK cents on Sept. 5.

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