Over-allocation option used

PUBLISHED : Wednesday, 09 July, 1997, 12:00am
UPDATED : Wednesday, 09 July, 1997, 12:00am

H-share First Tractor says an over-allocation option has been partially exercised by Peregrine Capital on July 8 in respect of 17 million extra new H shares to cover over-allocations in the placing. The latest shares, to be issued at $4.50 each, will raise $74.6 million for working capital. With 18 million shares issued under a previous partial exercise of the option last month, the total equals 35 million shares. Another 10 million shares remain under the option, which expires later today.