After the merger of CHUANGLIAN HOLD, new shares were issued, raising a net amount of 35.5 million yuan

CHUANGLIAN HOLD (02371.HK) announced that it will issue a total of 94.7368 million new shares to two independent third parties, Modern Anhua Group and Xuan Xiuli, at a price of HKD 0.38 per share, representing a premium of 8.57% over the theoretical closing price on the last trading day (24th). The net proceeds of HKD 35.5 million are intended for the financial services business segment and general working capital.

The company proposes a share consolidation of 10 for 1. Upon effectiveness, the trading board lot size will change from 4,000 shares to 8,000 shares. At the same time, it is proposed to capitalize HKD 5 million of shareholder loans, issuing a total of 13.1578 million shares to creditors Gao Yongzhi and Lu Xing at a price of HKD 0.38 per share