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China Fortune Financial raises HK$98.9M in share issue

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China Fortune Financial raises HK$98.9M in share issue

China Fortune Financial Group Ltd. raised up to HK$98.9 million in net proceeds from its share issuances.

The company said it issued 700 million and 717 million shares to two subscribers at a subscription price of 7 cents per share.

The company plans to use the funds raised for capital injection into Fortune Asset Management and for general working capital.