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BRIEF-Netel Technology says entered into subscription agreements
May 22, 2017 / 2:55 PM / 4 months ago

BRIEF-Netel Technology says entered into subscription agreements

May 22 (Reuters) - Netel Technology (Holdings) Ltd :

* Company and each of subscribers entered into subscription agreements

* Subscribers to subscribe for and co to issue 60 million subscription shares at a price of HK$0.10 per subscription share

* Net proceeds arising from subscription will amount to HK$5.8 million

* Intends to apply about HK$2 million of the net proceeds for development of big-data business and e-commerce business of group

* Says about HK$1 million of the net proceeds will be used for hosting a cross-border recruitment event Source text for Eikon: Further company coverage:

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