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BRIEF-Fufeng Group says vendor, guarantor and co entered into placing and subscription agreement
April 21, 2017 / 12:13 AM / 8 months ago

BRIEF-Fufeng Group says vendor, guarantor and co entered into placing and subscription agreement

April 21 (Reuters) - Fufeng Group Ltd :

* Vendor, guarantor and co entered into placing and subscription agreement with placing agent

* Placing shares represent approximately 5.90% of existing issued share capital of company

* Placing agent has agreed to place, 140 million existing shares at a price of hk$5.55 per share on behalf of vendor

* Co intends to use estimated net proceeds of subscription of approximately HK$766.5 million for construction of new plant in Qiqihar

* Vendor is Motivator Enterprises Limited

* Placing & subscription undertaken to supplement group’s strategic acceleration of construction of group’s amino acid plant in Qiqihar Source text for Eikon: Further company coverage:

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