Xingda International (01899) announced that all the conditions of the subscription agreement have been met, and the completion was implemented on February 8, 2024 in accordance with the terms and conditions of the relevant subscription agreements.
A total of 258 million subscribed shares (with a total face value of HK$257.68 million) (equivalent to approximately 15.50% of the company's issued share capital immediately before completion; and approximately 13.42% of the company's issued share capital expanded by allotment and issuance of subscription shares immediately after completion) have been issued to the subscriber at HK$1.31 per subscription price, that is, the issuance of 133 million subscription shares to subscriber A, the issuance of 39.9 million subscription shares to subscriber B, and the issuance of 478,88,88,000 shares to subscriber C Subscribe for shares.
The total proceeds from the subscription were approximately HK$338 million, and the net proceeds after deducting expenses were approximately HK$337 million.