WK GROUP is accused of placing 400 million shares by its controlling shareholder
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WK GROUP announced that its controlling shareholder, Chen Yongkang, has reached a placement agreement with Hua Fu Jian Ye Securities Limited to place up to 400 million shares at a price not less than HKD 0.25 per share, accounting for 20% of the company's issued share capital. After the placement, the controlling shareholder's stake will be reduced to 31%, but it will still maintain a controlling position. The company expects that this placement will not have an adverse impact on its operations
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