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Fuxing China announces 3,400,000 new subscription shares for $860,200

Bryan Wu
Bryan Wu • 1 min read
Fuxing China announces 3,400,000 new subscription shares for $860,200
The proposed subscription was set out to fund the automation of its zipper production manufacturing process.
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Fuxing China Group (SGX:AWK) has announced the proposed subscription of 3,400,000 new ordinary shares in the company’s capital at an issue price of 25.3 cents per share, amounting to a total of $860,200.

On Jan 18, the company announced that it had entered into a subscription agreement with Chinese nationals Dong Yiqiang, Gong Haibin, Dong Qunzhu, Hong Huafeng and Kung Kin Mang.

Dong Yiqiang and Gong have each subscribed to 800,000 shares, representing 3.88% of the enlarged share capital of the company, while Dong Qunzhu, Hong and Kung have subscribed to 700,000, 600,000 and 500,000 shares, respectively.

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