Two big shareholders of listing candidate Qualipak International are to sell a combined stake of about 5 per cent in the firm through a share placement and public offering.
This is part of the company's plan to raise about HK$51 million.
The packaging-products manufacturer is to offer 40 million new shares and 3.2 million existing shares at HK$1.08 each to the public.
In addition, 4.8 million existing shares will be placed to Hong Kong investors.
The eight million existing shares to be sold are held by Chuang Hing and China Investment & Development Fund (CIDF).
Chuang Hing is a wholly-owned subsidiary of locally listed China United Holdings, a textiles maker, which incurred an attributable loss of HK$61.68 million for the six months to September 30.