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Kong Sun Plans to Issue CNY2.3bn Shares to PE Fund

June 11, 2014



HONG KONG, June 11, SinoCast -- Kong Sun Holdings Ltd. (SEHK: 0295) said it planned to issue about 6.53 billion new shares to investor Pohua JT Private Equity Fund or persons appointed by the latter in a private placement. The shares accounted for 370.35% of its current capital stock and 78.74% of the expanded one. Net proceeds was estimated at about CNY 2.34 billion.

Subscription price is CNY 0.36 each, representing a discount of 1.37% from the previous-day closing price of 0.365. The proceeds will be used for the acquisition and development PV power generation projects under its wing and general operation use.

Pohua JT is a Cayman Island-registered private equity fund, focusing on investment in environment protection, clean energy, consumer retail, healthcare and technology development.


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Source: Sinocast Energy Beat (China)


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