STOCKS | Karrie International Plans HK$7.57 Million Share Placement

Karrie International Holdings (01025) said it has signed a placement agreement to sell up to about 37.873 million new shares at HK$0.20 each, raising up to HK$7.57 million, according to ETNet. The placement price matches the stock's closing price on the previous day. The new shares will represent about 7.8% of the enlarged share capital and will be placed to no fewer than six independent placees. The company expects none of the placees will become a substantial shareholder, and it plans to use the net proceeds as general working capital.