China Aerospace??
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HONG KONG, Jan 27 (Reuters) - Red chip China Aerospace International Holdings Ltd (CAI) said on Thursday it will raise HK$632 million through a placement to expand its broadband data transmission and digital video broadcasting services.
It said in a published statement that placing agent ING Barings had placed 204.02 million existing CAI shares at HK$1.80 a share, a 12.2 percent discount to its HK$2.05 last trade on Tuesday before being suspended.
It said 42.86 percent shareholder China Aerospace Corp would also subscribe for 357.02 million new CAI shares at HK$1.80 a share.
China Aerospace Corp's CAI stake would fall to 41.86 percent if an overallotment option was exercised.
It said it would allocate about HK$440 million to develop broadband multimedia data transmission and digital video broadcasting services and the remainder for working capital.
China Aerospace makes printed circuit boards, liquid crystal displays, televisions and video products, and is involved in telecommunications equipment manufacture through its 54.64 percent owned CASIL Telecommmunications Holdings Ltd <1185.HK>.
It owns 14.71 percent of APT Satellite Holdings Ltd <1045.HK>.
((Hong Kong Newsroom +852 2843-6358, Fax +852 2845-0636 hongkong.newsroom@reuters.com)) .