PRC companies raise funds through placements

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    BOCI Asia has placed over 330 million H-shares in aviation and automobile company AviChina Industry & Technology Company (AviChina), raising HK$1.14…

    BOCI Asia has placed over 330 million H-shares in aviation and automobile company AviChina Industry & Technology Company (AviChina), raising HK$1.14 billion (US$147 million). 300 million of these were new H-shares, with the rest being sale shares. The net proceeds from the new shares placement will be used to fund the acquisitions of aviation assets and for general corporate purposes.

    Meanwhile, Macquarie Capital Securities helped in the top-up placing of 277 million existing shares and the subscription of 277 million more new shares in PRC cornstarch producer China Starch Holdings. The deal raised HK$388.3 million.

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