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RENHE COMM (HKG:1387) to place 3 billion existing Shares

[Date:07-16-2009] Source: Quam
On 16 July 2009, RENHE COMM (HKG:1387),the Vendor entered into the Placing Agreement pursuant to which the company has agreed to place 3 billion existing Shares owned by the Vendor at the Placing Price of HK$1.86 per Share. The Placing Shares represent approximately 15.0% of the issued share capital of the Company. The Vendor has agreed to subscribe 2 billion new Shares at the Placing Price.

The net proceeds from the Subscription are expected to amount to approximately HK$3.575 billion which will be used for the acquisitions of the operation rights at the new underground shopping centre .

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