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Vantone reflective foil insulation to raise up to RMB 2.5 bln via share placement
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Vantone to raise up to RMB 2.5 bln via share placementPublished: 08 Dec 2009 19:46:38 PSTMore From ChinaKnowledge.comChina Economy DataChina Business GuideChina DemographicChina Industrial ParksChina Financial MarketDec. 9, 2009 (China Knowledge) – Beijing Vantone Real Estate Co Ltd<600246> on Monday said that it aims to raise as much as RMB 2.5 billion via a private share placement, sources reported. The real estate developer said in a statement filed with the Shanghai Stock Exchange that it plans to float up to 150 million new shares and that the price of the new shares should be 90% of the average price of the 20 trading days before Dec. 6. The proceeds from the offering will be used to fund four property projects, said the statement, which also said the plan is still subject to approval from the China Securities Regulatory Commission.Upon the completion of the share placement, the company’s capital will be enlarged by nearly 15% from the current 1.01 billion shares. Vantone recorded RMB 160 million in net profit in the first three quarters of the year, 57.68% less year on year. During the period, its operating revenue fell 51.19% year on year to RMB 1.5 billion, according to the firm’s quarterly financial report. In November, Vantone announced that it plans to sell a 51% stake in a joint venture based in Chengdu, Sichuan Province for RMB 136.13 million to Chengdu Jiaoda Real Estate, China Knowledge reported earlier.Copyright © 2009 http://www.chinaknowledge.comCFD 深圳罗湖搬家 风淋室 深圳南山搬家公司 深圳厂房装修 乳化机 门禁 lithium polymer