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BRIEF-ALLTEK TECHNOLOGY plans new shares issuance for loan repayment
August 10, 2017 / 10:19 AM / 4 months ago

BRIEF-ALLTEK TECHNOLOGY plans new shares issuance for loan repayment

Aug 10 (Reuters) - ALLTEK TECHNOLOGY CORP :

* Says it plans to issue about 16 million new shares of its common stock

* Says issue price will be determined later

* 10 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 80 percent of the new shares to be offered to the existing shareholders

* Proceeds will be used to repay loan

Source text in Chinese: goo.gl/4iEcsx

Further company coverage: (Beijing Headline News)

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