Boreton Tech Plans Up To 16.6 Million H-Share Placement

Boreton Tech (1333), which listed in May last year, said it will place up to 16.6 million new H shares at HK$10.28 each, raising about HK$171 million in gross proceeds or HK$159 million net, according to Ming Pao. The placement price represents a 16.69% discount to the September 11 close of HK$12.34. The shares to be placed account for about 4.42% of the enlarged H-share capital and about 4.07% of total issued shares after the placement. The company will be subject to a 30-day lock-up period after completion.