22nd Sep 2014 13:39
LONDON (Alliance News) - China New Energy Ltd said Monday that it has raised GBP594,766 through the issue of 44.7 million new shares at a price of 1.332 pence per share to be used as working capital for current projects.
The shares have been acquired by Jet-Air (HK) Ltd, a subsidiary of China Best Group Holding Ltd, and represent a 11.34% interest in the company's enlarged issued share capital.
"We welcome this investment that will assist CNE in driving forward our current pipeline of projects," said Chairman Weijun Yu in a statement.
Shares in China New Energy are untraded Monday; it last closed at 1.44 pence Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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