Kingboard Chemical Sells Some of Laminates Unit Stake for HK$1.71 Billion

Kingboard Chemical Holdings Ltd. privately sold 225 million shares in Kingboard Laminates Holding Ltd. for HK$1.71 billion, the company said in a Hong Kong stock exchange filing today.

The company will use the net proceeds of HK$1.67 billion to expand production capabilities and as general working capital, Kingboard Chemical said. CLSA Ltd. was the placing agent with a commission of 2.5 percent, Kingboard said.

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