By Sheri Kasprzak
New York, April 27 - EBT Mobile China plc said it has concluded a £5 million private placement.
The company sold 16,666,667 shares at 30p each, a 3% discount to the closing middle-market price of the company's stock on April 26, to a group of institutional investors.
The offering represents 10.7% of the company's issued share capital.
Evolution Securities Ltd. is the placement agent.
Proceeds will be used for accelerated rollout of the company's outlets and for working capital.
Based in Shanghai, China, EBT is a mobile phone retailer.
| Issuer: | EBT Mobile China plc
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| Issue: | Stock
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| Amount: | £5 million
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| Shares: | 16,666,667
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| Price: | 30p
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| Warrants: | No
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| Placement agent: | Evolution Securities Ltd.
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| Settlement date: | April 27
|
| Stock symbol: | London: EBT
|
| Stock price: | 31.35p at close April 26
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