Financial Wire

China Baoli Technologies Completes Nearly HK$13 Million Share Issue

-- China Baoli Technologies (HKG:0164) completed the issuance of 38.4 million new shares under a general mandate, according to a Wednesday Hong Kong bourse filing.

Shares of the multimedia company gained over 2% in morning trade Thursday.

The shares were issued at HK$0.40 each, raising net proceeds of about HK$12.5 million.

The shares represent about 11.7% of the company's enlarged issued share capital.

Net proceeds will be used for working capital, including funding its dry-grinding and dry-beneficiation projects in Mongolia.

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