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Future World Financial issues 900 million shares

Future World Financial Holdings Ltd. issued 900 million new shares at a subscription price of 6.4 Hong Kong cents per share.

The company raised gross and net proceeds of HK$57.6 million and HK$57.5 million, respectively, according to a Feb. 27 announcement.

The net proceeds from the company will be used for the development of its existing trading business and for general working capital purposes.

The new shares represent about 7.77% of the company's issued share capital.