Two investors help fund research, development activities, new projects
By Devika Patel
Knoxville, Tenn., Feb. 22 - RCG Holdings Ltd. said it arranged a private placement of shares. The offering priced for HK$47.5 million on Feb. 18.
The company will sell 19 million ordinary shares HK$2.50 per share to Chiefland Trading Ltd. and Rare Minerals Group Ltd.
Proceeds will be used for research and development activities and new projects in the Solutions, Projects and Services business segment.
The provider of biometric and RFID products and solution services is based in Hong Kong.
| Issuer: | RCG Holdings Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | HK$47.5 million
|
| Shares: | 19 million
|
| Price: | HK$2.50
|
| Warrants: | No
|
| Investors: | Chiefland Trading Ltd. and Rare Minerals Group Ltd
|
| Pricing date: | Feb. 18
|
| Stock symbol: | London: RCG
|
| Stock price: | 23p at close Feb. 18
|
| Market capitalization: | £55.02 million
|
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