CHINA HUAJUN GP plans to issue a total of 12 million subscription shares at HKD 1 each, netting approximately HKD 11.9 million
CHINA HUAJUN GP plans to issue 12 million subscription shares at a price of HKD 1 per share, expecting to raise approximately HKD 11.9 million net. The subscription agreement was signed on June 23, 2025, and the subscription shares will account for about 16.32% of the company's enlarged issued share capital. The funds raised will be used to repay debts and for general working capital
According to the announcement from CHINA HUAJUN GP (00377), on June 23, 2025, the company (as the issuer) entered into a subscription agreement with the subscriber. According to this agreement, the subscriber agrees to subscribe, and the company agrees to allocate and issue a total of 12 million subscription shares, with a subscription price of HKD 1 per subscription share.
The subscription price of HKD 1 per subscription share is equal to the closing price of HKD 1 per share reported on the Stock Exchange on June 23, 2025 (the date of the subscription agreement). Assuming there are no changes in the company's issued share capital from the date of this announcement to the completion date, the subscription shares will account for approximately 16.32% of the company's issued share capital after the allocation and issuance of the subscription shares.
After deducting all related expenses, the net proceeds from the subscription are expected to be approximately HKD 11.9 million. The company intends to use the net proceeds to repay debts and for general working capital of the group
