Kantone plans China e-lottery
22 September 2005
IT company Kantone Holdings aims to raise US$262.8 million through a topped-up share placement in order to create an e-lottery in China, the South China Morning Post reported. Kantone will sell 360 million shares at US$0.73 a share, although only 240 million will be publicly issued since its largest shareholder, Champion Technology, wishes to retain a stake of at least 50%. The sale price represents a 6.41% discount from when the trading of Kantone shares was halted Wednesday on the Hong Kong Stock Exchange.