BRIEF-China Demeter Financial Investment to place 153.8 mln placing shares

March 31 (Reuters) - China Demeter Financial Investments

Ltd:

* Company and placing agent entered into placing agreement

* Net proceeds will be approximately hk$14.7 million

* Co has conditionally agreed to place through placing

agent, on a best endeavour basis, up to 153.8 million placing

shares

* Expected that net proceeds from placing will be used for

partial payment of acquisition.

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