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FINWIRES

Wasion to Raise HK$1.5 Billion via Share Placement, Top-Up Subscription

-- Wasion Holdings (HKG:3393) plans to raise about HK$1.47 billion in net proceeds through a share placing and top-up subscription, according to a Tuesday Hong Kong bourse filing.

Shareholder Star Treasure Investments will place up to 50 million shares at HK$30.00 each to at least six investors on a best-efforts basis.

The placing represents about 5% of the company's existing issued share capital.

Wasion will issue the same number of new shares to the seller under a top-up subscription at the same price.

Net proceeds will be used for business expansion, research and development, overseas market growth, potential acquisitions, debt repayment, and general working capital.

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