The placement shares will be subscribed by 13 investors, including chairman and CEO Liang Chengwang who is subscribing to 60 million of the placement shares, as well as executive director, Duanmu Xiaoyi, who will be allotted 20 million shares.
Catalist-listed China Star Food Group has announced the proposed placement of 500 million new ordinary shares at an issue price of 2.4 cents per share, for a total sum of $12 million.
The issue price of 2.4 cents is equivalent to the volume weighted average price per share based on trades done on Sept 21.
