Feb. 14, 2007 (China Knowledge) – Tack Fat Group <928> is planning to raise HK$194 million from a share placement for the funding of expansion plans in Mainland China and Cambodia.

Hiring BNP Paribas as its arranger, Tack Fat is offering 178 million new shares at HK$1.09 each, a 14.84% discount to its latest price of HK$1.28 on Wednesday.

The company, which designs and manufactures swimwear, casual wear and sportswear, plans to set aside 46% of the proceeds for output capacity expansion in Cambodia, and 26% for retail expansion in the Mainland. The remainder would be used as working capital and for potential acquisitions of global brand names, according to a sale document given to institutional investors.