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Grand Forestry Will Raise Up to HK$210 Million in Placing for Investments

China Grand Forestry Green Resources Group Ltd. will raise as much as HK$210 million placing as many as 1 billion shares at 21 Hong Kong cents each, the company said in a Hong Kong stock exchange filing.

The company expects to generate net proceeds of as much as HK$204.5 million for future business investment, Grand Forestry said today. Kingston Securities Ltd. is the placing agent, it said.

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