Brief: Bestway International and unit enter into subscription agreement with Hua Lien

Hua Lien International (Holding)

21/07/2016 23:11

July 21 (Reuters) - Bestway International Holdings Ltd  0718.HK : 
 
 * Bestway, the subscriber and Hua Lien entered into the subscription agreement 
 * The net proceeds of the subscription will amount to approximately HK$584 
   million 
 * Subscriber to subscribe for, and Hua Lien to allot and issue, 3.70 billion 
   subscription shares at HK$0.16 per subscription share 
 * Hua Lien and the placing agent also entered into the placing agreement 
 * Application has been made by Bestway for resumption of trading in Bestway 
   shares with effect from 9:00 a.m. on 22 July 
 * Placees to subscribe for 800 million placing shares at the placing price of 
   HK$0.16 per placing share 
 * Application made by Hua Lien for resumption of trading in Hua Lien shares 
   respectively with effect from 9:00 a.m. on 22 July 2016 
 * The net proceeds of the placing will amount to approximately HK$123 million 
 * "Hua Lien proposes to increase the authorised share capital of Hua Lien 
   to HK$2 billion" 
 
  Source text for Eikon (http://bit.ly/2adsiV4) 
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