Civil engineering firm to take up Dyxnet rights shares

Civil engineering and technology investment company Shun Cheong Holdings announced yesterday it would take up the 5.2 million rights shares and 4.8 million preference shares allocated to it by Dyxnet under the Internet service provider's HK$100 million fund-raising exercise. Dyxnet, which runs Diyixian.com, a specialised service provider for communications in Greater China, said earlier this month it would try to raise HK$39 million through a rights issue and US$7.98 million through a sale of new preference shares. Shun Cheong, which holds approximately 5.5 per cent of Dyxnet, will pay about HK$21 million for the shares.