Hankore

Hankore – It appears that Hankore is placing out 293.6m new shares to renowned investor ‘Mr Alan Wang Yu Huei’. Note that Mr Wang’s shareholdings are have been generally well-tracked by investors, and includes the likes of Dukang, Sino-Grandness, Sarin etc, and his entry into Hankore could boost inventor’s sentiment, given his reputation. The placement price is only a 1% discount to the vwap of $0.0505 done on 17th Jul and comprise of 6.5% of current shares outstanding and 6% of the new share base post placement. The estimated net proceeds from the Proposed Placement is $14.7m and the Net Proceeds will be used for business investments and working capital purposes Lifting its trading halt at 1615h