Luk Fook (HKG:0590) to Raise $1.36B via Top-up Placing

   Date:2012-01-29

Luk Fook Holdings (HKG:0590) announces that it has agreed to place, by way of top-up placing, 46.6 million shares at HK$29.25 per share, raising HK$1.363 billion. The estimated net proceeds of HK$1.341 billion will primarily be used for the purchase of inventory, expansion and other general corporate purposes.

The placing price represents a discount of 9.6% to the company's closing price of HK$32.35 yesterday. The placing shares represent 7.9% of the enlarged issued share capital of Luk Fook.

Upon completion, the shareholding of Luk Fook (Control) Limited, being a substantial shareholder, in Luk Fook will fall from 43.17% to 39.75%. Goldman Sachs (Asia) L.L.C. acts as the placing agent.



 

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