CPP Successfully Completes Placing of Approximately 700M Shares to Raise HK$251M

2014-06-23 10:22 1633

HONG KONG, June 23, 2014 /PRNewswire/ -- The board of directors of China Public Procurement Limited (HKEx stock code: 1094, the "Company" or "CPP") announced after the market closed today that, it has successfully completed its placing today of an aggregate of 698,888,000 shares, representing approximately 6.18% of the issued share capital of the Company. The placing price is HK$0.36 per placing share. The net proceeds from the placing are approximately HK$250 million.

The placees of the placing include Ms. Shen Ping, Mr. Wong Cho Fai, Nicholas and Wellchamp Fund Limited.

Mr. Cheng Yuanzhong, Chairman of the Company, said, "The successful completion of the placing has reflected investors' confidence in CPP's future prospect. Looking forward, we will fully utilize the capital to further expand our public procurement business in the future."

Source: China Public Procurement Limited
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