To: Finance Section Editors/Reporters
[For immediate release]
Credit China Proposes Placing to Raise HK$605 Million to
Strengthen Capital Base and Consolidate Internet Finance Business
(11 November 2015, Hong Kong) Credit China Holdings Limited ("Credit China" or the "Company"; together with its subsidiaries, the "Group", stock code: 8207), the leading internet financial service provider in China, announced that the Group has entered into a Placing Agreement to issue an aggregate of up to approximately 288 million Placing Shares to not less than six Placees at the price of HK$2.1 per Placing Share, representing approximately 7.41% of the total issued share as enlarged by the Placing Shares. The maximum gross proceeds are expected to amount to approximately HK$605 million.
Mr. Phang Yew Kiat, Vice-Chairman and Chief Executive Officer of Credit China, said, "Through placing, the Group intends to apply the proceeds for the purpose of financing future business development and possible acquisition(s) in the internet financing business, and the deal is in the interests of the Group and shareholders as a whole."
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About Credit China Holdings Limited (Stock code: 8207)
Credit China Holdings Limited listed on the Stock Exchange of Hong Kong in November 2010. It is also a leading integrated internet financing service provider targeting SMEs. Credit China provides comprehensive, fast and convenient short-term loans and financing solutions to SMEs and individuals. The major financing service areas are: 1) Online Third-party Payment; 2) P2P Housing Loans; 3) Online P2P Loans; 4) Real Estate Collateralised Loans; and 5) Online Micro-finance.
Please subscribe to Credit China's HK wechat account to keep abreast of regular updates on the Group's business development.
Company website: www.creditchina.hk
Credit China's HK wechat account: creditchina8207
This press release is released by PR ASIA Consultants Limited, on behalf of Credit China Holdings Limited.
For more information or enquiries, please contact:
Lorraine Lam / Winnie Chan / Sam Choi
Tel: (852) 3183 0230 / 3183 0257 / 3183 0242
Fax: (852) 2583 9138
E-mail: creditchina@prasia.net
