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3 months ago
BRIEF-Papago plans new issuance for loan repayment and working capital enrichment
June 5, 2017 / 10:56 AM / 3 months ago

BRIEF-Papago plans new issuance for loan repayment and working capital enrichment

June 5 (Reuters) - Papago Inc :

* Says it plans to issue about 170 million new shares of its common stock

* Says issue price will be at T$12~16 per share

* 10~15 percent of the new shares to be offered to the company's employees

* 10 percent of the new shares to be offered through public offering

* Remaining to be offered to the existing shareholders

* Proceeds will be used to repay loan and fulfill the working capital

Source text in Chinese: goo.gl/jjaG4i

Further company coverage: (Beijing Headline News)

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