Congyu Intelligent Agricultural raises HKD33.6m in placing
What's the deal? Congyu Intelligent Agricultural HoldingsDealroom has a profile for this one. Try Dealroom → is raising HKD33.6 million through a placing of up to 139.8 million new shares. The shares are priced at HKD0.24 each, an 18.64% discount to market, and represent 16.7% of the enlarged share capital.
Why the discount? The placing provides fresh capital at a discount while diluting existing holders by nearly a sixth.
The signal: The post-IPO equity raise is worth roughly US$4.3 million and gives the Hong Kong-listed agricultural company another route to funding.
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