Breton Technology to Raise HK$159 Million From Share Placement; Shares Plummet 5%
MT Newswires Live
Sep 14
Breton Technology (HKG:1333) agreed to place up to 16.6 million new H shares to raise net proceeds of about HK$159.1 million.
The shares will be placed at HK$10.28 apiece and represent about 4.42% of the company's enlarged H-share capital, according to a Friday Hong Kong bourse filing.
The shares will be placed on a best-effort basis through at least six independent investors. Completion is expected on Sept. 18, subject to the terms of the placing agreement.
The battery-electric engineering firm's shares fell over 5% in Monday's trade.
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