BRIGHTSTAR TECH plans to issue 210.4 million shares at a premium of approximately 11.38%, raising about HKD 28.3 million
BRIGHTSTAR TECH plans to issue 210.4 million shares to subscribers on May 13, 2025, with a subscription price of HKD 0.137 per share, representing a premium of approximately 11.38% over the closing price. This issuance is expected to raise a total of approximately HKD 28.8 million, with a net amount of about HKD 28.3 million, and the funds will be used for general corporate and working capital
According to the announcement from BRIGHTSTAR TECH (08446), on May 13, 2025, the company (as the issuer) plans to allocate and issue 210.4 million subscription shares to the subscriber (the company's executive director Mr. Yang Haoting), accounting for approximately 18.7% of the total issued shares after the proposed allocation and issuance of subscription shares. The subscription price is HKD 0.137 per subscription share, representing a premium of approximately 11.38% over the closing price of HKD 0.123 per share on May 13.
The expected total amount and net amount of funds raised from the subscription are approximately HKD 28.8 million and HKD 28.3 million, respectively. The company intends to use the net proceeds for general corporate purposes and working capital
