New Zealand-based Richina Pacific has delayed its US$10.4 million one-for-one rights issue so it can include its latest audit results in the proposal.

Richina needs to raise capital by mid March to fund its fast growing Shanghai leather division. The money is needed to buy hides and skins to be converted into leather and sold during the June-July peak season. Shares will be available to investors at US$14.5 cents

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