Jan. 16, 2007 (China Knowledge) – Imagi International Holdings, a Hong Kong-based computer graphics company with clients like Warner Bros, is looking to sell up to HK$370 million worth of shares in a top-up share placement.

The company intends to sell 100 million new shares in a price range of between HK$3.50 and HK$3.70, which represents a discount of 6.8% to 11.8% on Friday's closing price of HK$3.97. The share sale accounts for 7.3% of the enlarged shares issued.

The share sale will also involve a placement of shares owned by Imagi's controlling shareholder Cheerco Trust, followed by a new issue of shares to Cheerco Trust.

CLSA is the arranger of the share sale.

For the six months ended September, Imagi posted a net loss of HK$11.5 million, compared with a loss of HK$40.7 million a year earlier.