Main board-listed Luks Industrial (Group), whose shares have surged 310 per cent this year, and GEM-traded AGTech Holdings sought to raise a combined US$177 million in the equity market yesterday.
Vietnam-based cement producer Luks Industrial, the controlling shareholder of which is also offering shares in the company, was seeking to generate up to US$102 million through the sale of new shares at a relatively sharp discount, market sources said.
The company was selling 60 million new shares with an indicative price range of HK$12.50 to HK$13.30 each to raise up to HK$798 million through a top-up share placement to strengthen its capital reserves for the planned expansion of its headquarters, according to a sale document distributed to fund managers.
The offering represents a discount of up to 13.07 per cent on Monday's HK$14.38 closing price.
At the same time, the Luk family, the controlling shareholder of Luks Industrial and the firm's senior company director were offering a total of 13 million existing Luks shares in the same price range to raise as much as HK$187 million, the document indicated.
Cazenove Asia is the sole bookrunner of the share sale, while UBS and 3V Capital are also helping the offering.
The company plans to spend as much as US$20 million on land acquisitions.
