[ET Net News Agency, 26 July 2019] Summit Ascent Holdings Limited (00102) said the
company has conditionally agreed to place up to 300 million placing shares at the placing
price of HK$1.01 per placing share to not less than six placees.
The maximum number of 300 million pacing shares represents approximately 16.63% of the
issued share capital of the company as enlarged by the placing. The placing price of
HK$1.01 per placing share represents a discount of 19.2% to the closing price of HK$1.25
per share as at the date of the placing agreement.
Assuming that all the placing shares are fully placed, the estimated gross proceeds and
net proceeds will amount to HK$303 million and approximately HK$297 million, respectively.
The company intends to utilise the net proceeds to further develop the hotel and gaming
business in Integrated Entertainment Zone in the Russian Federation. (RC)
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00102 SUMMIT ASCENT
Nominal 
0.047 0.000 (0.000%) Disclosure of Interest
26/07/2019 14:28
Summit Ascent (00102) to place shares for HK$303 million
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