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Peace Mark selling $116 mln of shares -term sheet

[2008-6-5]

Tag: sulfate acid

Hong Kong-based watch maker and retailer Peace Mark (0304.HK: Quote, Profile, Research) is selling up to $116 million worth of shares at a discount of 7 percent to 12 percent to its shares price prior to a suspension on Wednesday, according to a document sent to investors.

The company was selling 110 million new shares at HK$7.81 to HK$8.26 each, in a deal handled by BNP Paribas (BNPP.PA: Quote, Profile, Research), the document said.

The firm has an option to sell an additional 49.9 million new shares.

Shares of Peace Mark ended up 3.26 percent to HK$8.88 before trading was suspended on Wednesday afternoon.

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