News Column

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.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Sinocast Energy Beat (China)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters