Chuanglian (HKG:2371) said it extended the long stop date of a previously announced share sale to March 31, according to a Hong Kong bourse filing Monday.
The firm had agreed to sell around 78.9 million shares and 15.8 million shares to two subscribers at HK$0.38 apiece, respectively, to raise around HK$36 million.
The 94.7 million shares to be issued would represent 12.3% of the company's enlarged share capital.
The funds to be raised will primarily be applied to the group's financial service business segment.
Shares of the company fell over 10% in morning trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.