In a Monday filing, GKE says it intends to use the proceeds to expand its ready-mix cement production to Cenxi City in China as the group’s wholly-owned subsidiary, Wuzhou Xing Jian, has agreed to invest RMB48 million ($9.7 million) to construct a new ready-mix cement plant in Longmu Village, Cenxi City.
SINGAPORE (May 6): GKE Corporation is looking to raise some $7 million by issuing out 100 million new ordinary shares of the company at 7 cents per placement share to fund its expansion plans.
The placement represents 12.7% of the enlarged share capital of 788.53 million shares.
