Multimedia company Prosper eVision is to raise net proceeds of HK$42.44 million by placing 106.6 million shares at 40 HK cents each.
Proceeds from the placement would be used as additional working capital, the company said.
The new shares, which make up approximately 14.89 per cent of the company's existing share capital, will be issued to Eurofaith Holdings, an independent third party. The subscription price represents a discount of 10.11 per cent on the last closing price before the agreement was reached of 44.5 HK cents on December 29.
Eurofaith is primarily engaged in holding the shares and has no other business, according to the announcement.
Prosper eVision is 32.93 per cent owned by Gold Chief Investment, a subsidiary of China Convergent.
Best Fortune Capital, the controlling shareholder of China Convergent, holds a 1.76 per cent stake, while the remainder is traded on Hong Kong Exchanges and Clearing's main board.
