Wang Sing International Holdings Group
Wang Sing International has established a new and highly-equipped power tools production base in Hai An County, Jiangsu Province. The factory is equipped with highly sophisticated facilities to provide you with a "One-stop" production model.
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Wang Sing to increase share capital in open offer
Wang Sing International Holdings Group has announced that it will carry out an open offer on the basis of two shares for every share held on the record date which has yet to be confirmed.
In order to accommodate future expansion of the Group, the Directors propose to increase the authorised share capital of the Company from HK$200,000,000 divided into 2,000,000,000 Shares to HK$500,000,000 divided into 5,000,000,000 Shares by creating an additional 3,000,000,000 unissued Shares.
The offer will be for HK$0.1 per offer share, representing a discount of 56.5 percent on the closing price of HK$0.23 on 27 May 2009, when trading was suspended. Trading will resume on June 3.
