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HK's Zall to issue shares worth $190 mln to repay debt
May 31, 2017 / 1:27 AM / 6 months ago

HK's Zall to issue shares worth $190 mln to repay debt

HONG KONG, May 31 (Reuters) - Hong Kong-listed Zall Group Ltd, a developer of shopping malls and warehouses, said it would issue new shares worth HK$1.5 billion ($190 million) to an investment fund, aiming to repay debt and increase its general working capital.

Zall will issue 357.1 million new shares, equivalent to 3.2 percent of its enlarged share capital, to OBOR Global Innovation Fund SPC at HK$4.2 apiece, it said in a filing to the Hong Kong bourse on Wednesday.

The issue price represents a 10.3 percent discount to the stock’s previous close. ($1 = 7.7925 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Edwina Gibbs)

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