Li & Fung sells $500 mln new shares to Temasek
September 8th, 2008 | by admin |HONG KONG, Sept 8 (Reuters) - Hong Kong-based consumer goodsexporter Li & Fung Ltd (0494.HK: Quote, Profile, Research, Stock Buzz) said it would sell HK$3.9billion ($500 million) worth of new shares to a wholly-owned unitof Temasek Holdings [TEM.UL], raising capital to fundacquisitions.
The U.S.-focused exporter said in a statement late on Sundaythat it would sell 168 million new shares, or 4.62 percent of itsenlarged share capital, at HK$23.09 per share.
Shares of Li & Fung ended at HK$22.55 on Friday. (US$1=HK$7.8) (Reporting by Donny Kwok; editing by Jonathan Hopfner)
