Birmingham raise $6.3 million

Debt-ridden English Premier League club Birmingham City have raised $6.3 million through a new share issue in Hong Kong. A total of 6.43 percent of Birmingham International Holdings - the club's parent company - was sold, raising HK$49 million ($6.3 million), the firm said in a statement to the Hong Kong stock exchange late Wednesday.
The sale saw the overall stake held by the club's biggest shareholder, Hong Kong-based tycoon Carson Yeung, fall from 24.9 percent to 23.3 percent. The statement said the shares were sold to people "not connected" to the club.