TUS International May Use Private Placement Proceeds For Potential Investments
April 17, 2018 at 12:00 am EDT
TUS International Limited (SEHK:872) expects to receive approximately HKD 168.2 million from a private placement with Sumchi International Co., Limited, Dawin (H.K.) Limited, and other investors. TUS International intends to use approximately HKD 43.3 out of the proceeds for the proposed further acquisition of interest in suitable investment target(s) in the automobile industry, research and development, general and administrative expenses and improvement of the liquidity of the working capital.