Thursday, December 27, 2012

Oriental Group

Oriental Group: Looking to raise net proceeds of $21.4m in a placement of 179.2m new shares at 12c each. Plans to use 37% of the net proceeds for the proposed acquisition of carbon steel manufacturer Xinghua Rongcheng; 14% to grow the group's business of making and trading industrial and construction materials; and the remaining for working capital and general corporate purposes.

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