Universal Travel to raise $20 million with sale of 2.9 million new shares
By APWednesday, June 16, 2010
Universal Travel to raise $20M with stock sale
NEW YORK — Universal Travel Group priced an offering of about 2.9 million new shares on Wednesday at $7 each, bringing total proceeds to about $20 million before expenses.
The Chinese travel services company plans to use the proceeds to fund recent acquisitions. It expects to close the sale Monday.
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