CHINA PPT INV completed the placement of 53.43 million shares, netting HKD 22.97 million
CHINA PPT INV completed the placement of 53.43 million shares, netting HKD 22.97 million. The shares were issued at a price of HKD 0.43 per share, accounting for approximately 20% of the total issued shares before the completion. The proceeds will be used to replenish working capital and for other corporate purposes
According to the news from Economic Information Agency on the 5th, CHINA PPT INV (00736) announced that the conditions precedent set forth in the subscription agreement have been satisfied, and the subscription has been completed today (the 5th) in accordance with the terms and conditions of the subscription agreement. A total of 53.433 million subscription shares have been allocated and issued to the subscribers at a subscription price of HKD 0.43 per share, which is approximately 20% of the total number of shares issued immediately before the completion of the subscription; and approximately 16.67% of the total shares issued after the allocation and issuance of the subscription shares. The announcement stated that the net proceeds from the subscription, amounting to approximately HKD 22.97 million, will be used to replenish working capital and for other corporate purposes. (jl)
