Location: Home > textile information
Weiqiao Textile in $108.9 mln share sale-term sheet
Source: CCPIT TEX Date: 2006-03-03
HONG KONG, March 2 (Reuters) - China's largest cotton textile maker, Weiqiao Textile Co. Ltd. , was on Thursday selling up to US$108.9 million in new shares at a discount of 3.9 percent to 5.5 percent below their lunch close, according to a deal term sheet obtained by Reuters.
The company, whose shares were suspended at lunchtime, was selling 68,936,500 shares at HK$12.05 to HK$12.25 each in a deal handled by Morgan Stanley .
Weiqiao shares rose 2.82 percent on Thursday to end the morning session at HK$12.75. The stock had risen more than 20 percent in the three months through Wednesday. (US$=HK$7.8)
