May 11, 2017 / 11:48 PM / 2 months ago

BRIEF-China Yongda Automobiles Services updates on placing and subscription agreement

1 Min Read

May 12 (Reuters) - China Yongda Automobiles Services Holdings Ltd:

* Subscriber, co, Morgan Stanley & Co. International and UBS AG entered into placing and subscription agreement

* Each of placing agents agreed to place 135 million existing placing shares at placing price of HK$6.58 per placing share

* Net proceeds from subscription will be about HK$879.8 million

* Intends to use net proceeds for further expansion of its dealership network and its automobile financing business Source text for Eikon: Further company coverage:

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