DVN top-up places 38.9mln new shrs for D77.8 mln

DVN (Holdings) Limited (0500) announces that its substantial shareholder Universal Appliances Limited (0419) top-up placed 24.10 million shares at D2 per share to two independent funds and Universal Appliances Limited subscribed 38.9 million new shares at the same price. The company will raise D77.8 million and the net proceeds will be D77.40 million, which will mainly be used as the working capital of the company.

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