Heng Tai Consumables Group, a consumer product distributor in the mainland, plans to raise as much as HK$515 million from a share placement, capitalising on its strong stock price, sources said.
The firm was selling up to 285 million new shares at a price ranging between HK$1.78 and HK$1.81 each, representing a discount of 5 per cent to 7 per cent on its last closing price of HK$1.91, according to a sale document obtained by fund managers.