11:00 AM EST - Sino-Forest Corp. : on Friday said it reached an agreement to sell nearly 26 million common shares, to several institutional investors including Temasek Holdings and United Capital Investments Group. The offering is expected to generate gross proceeds of US$200 million at a price of $9.15 per share. The proceeds would be used for the acquisition of standing timber, for the acquisition or construction of related processing facilities in the regions, and for working capital. Sino-Forest Corp.
shares T.TRE are trading off 56 cents at $11.00.
