Completes A$25m Equity Placement
Hong Kong, Aug 7, 2014 AEST (ABN Newswire) - Leading Chinese mobile commerce company 99 Wuxian Limited (
ASX:NNW) (NNWXF) ("99 Wuxian" or the "Company") is pleased to announce that it has successfully completed an equity placement ("Placement") of 45.45 million new fully paid Chess Depositary Interests ("CDIs") at A$0.55 per CDI to raise A$25 million before costs.
The Placement was oversubscribed with strong interest from domestic and international institutions.
Investorlink Securities Ltd and Foster Stockbroking Pty Ltd acted as Joint Lead Managers to the Placement.
99 Wuxian CEO, Ms Amalisia Zhang said: "We are pleased to welcome a number of high quality institutional and professional investors to the Company's register. The funds raised will be used to continue our focussed business strategy of activating registered users, driving user growth and increasing our services to our business partners."
The Board views the substantial Australian and international institutional participation in the Placement as a strong vote of confidence in the Company's growth strategy for the 99 Wuxian platform.
The Placement is scheduled to settle on 12 August 2014 and CDIs admitted to official quotation on 13 August 2014.
To view the release, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-NNW-810322.pdf
About 99 Wuxian Ltd
99 Wuxian Ltd (ASX:NNW) aggregates over 300 million high quality consumers and 155 leading merchants through a marketplace embedded within the mobile apps of China's leading banks, telecommunications and insurance companies. 99 Wuxian enables increased customer satisfaction, loyalty and retention for its business partners by offering consumers the lifestyle convenience of purchasing virtual and physical goods on a mobile device.
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