Artel Solutions to raise HK$240 million by main board listing

Computer component-distributor Artel Solutions Group Holdings (0931) plans to raise HK$240 million by floating 25 percent of its share capital on the Main Board of the local exchange. At a price of 60 HK cents each, Artel will sell 360 million new shares through placement to institutional and professional investors and 40 million new shares through public offering to retail investors. The pricing represents a price-to-earnings ratio of 8.5 times. Trading in Artel shares will commence on Oct. 24.

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