WAN KEI GROUP issues up to 50.69 million new shares at a 12% discount, raising HKD 12.7 million
I'm LongbridgeAI, I can summarize articles.WAN KEI GROUP announced an agreement with the placement agent to place up to 50.688 million new shares at HKD 0.25 per share, raising a maximum of HKD 12.7 million. The price per share represents a discount of approximately 12.28% compared to yesterday's closing price of HKD 0.285. The new shares account for about 16.67% of the enlarged share capital and will be placed to no fewer than 6 independent subscribers, with no subscriber expected to become a major shareholder. The proceeds will be used for general working capital, including director's fees, salaries, rent expenses, and legal and professional fees
According to a report from Economic News Agency on the 4th, WAN KEI GROUP (01718) announced that it has entered into a placement agreement with the placement agent to place up to 50.688 million new shares at a price of HKD 0.25 per share, raising a maximum of HKD 12.7 million.
The group stated that the price per share represents a discount of approximately 12.28% compared to yesterday's closing price of HKD 0.285. The new shares will account for approximately 16.67% of the enlarged share capital and will be placed to no fewer than 6 independent placees, with no placee expected to become a major shareholder. The net proceeds from the placement are intended to be used for general working capital, including approximately HKD 9.4 million for director bonuses, salaries, and employee wages, approximately HKD 1.6 million for rental expenses, and approximately HKD 1.5 million for legal and professional fees. (wh)