KING TECH SEEKING PRIVATE PLACEMENT FOR RAPID BUSINESS EXPANSION
King Tech International Limited announces today that it is seeking a private placement in the Asian markets in order to expand its business and pursue significant contract opportunities.
Due to a continued increase in the demand for the Company's services, KING TECH is seeking additional capital to acquire the necessary equipment to secure and undertake a number of significant contracts, and further cement its market position. Having assessed all funding options, KING TECH has concluded that a private placement is the most appropriate route for its growth strategy.
David Lee, the Chairman of King Tech International Limited commented, "According to our research findings from People's Republic of China Ministry of Communications, China needs to build more than 800,000 kilometres of new roads by 2010. Our environmentally friendly process of shredding tires to produce Asphalt Rubber is very much in line with the Chinese government's desire for cleaner growth. KING TECH has an established track record and has unparalleled government relationship in China and as a result we are seeing significant opportunities to grow our business."
KING TECH has appointed Libertas Capital Asia Limited as its Financial Advisor and exclusive placing agent on an upcoming private placement with immediate effect. Following the successful completion of the private placement, KING TECH has agreed that it will appoint LCA as its Nominated Advisor and Broker if the Company chooses to list its shares on AIM in London.
About Libertas
LCA is a wholly owned subsidiary of Libertas Capital Group plc based in Hong Kong offering full corporate finance services for the markets in Asia, particularly China, to complement those already provided by the Libertas Capital group. Libertas Capital is an international financial services firm offering its clients a full range of dedicated independent Corporate Finance Advisory, Research and Distribution services.
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