Dong-Jun seeks $58m through 50 million share placement

Dong-Jun (Holdings) is to raise about $58 million in net proceeds from the placement of 50 million new shares to independent investors. The shares will be sold at $1.18 each, or a 7.81 per cent discount to the closing price of $1.28 yesterday, or a 7.09 per cent discount to the average closing price of HK$1.27 for the past 10 trading days. Net proceeds will be used for general corporate funding and working capital for project development in the mainland.