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Kingboard Chemical Sells Laminates Unit Stock at HK$1.71 Billion

Sept. 24 (Bloomberg) -- 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.

Link to Statement:{NSN L992XA3PR6RK <GO>}

Link to Company News:{148 HK <Equity> CN <GO>} Link to Company News:{1888 HK <Equity> CN <GO>}

To contact the editor responsible for this story: Joshua Fellman at jfellman@bloomberg.net

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