Gelonghui, May 17, 丨 Intercontinental Aerospace Technology (01725.HK) announced that all the conditions set out in the subscription agreement have been fulfilled, and the subscription was completed on May 17, 2024 in accordance with the terms and conditions of the subscription agreement. A total of 30 million subscribed shares (equivalent to approximately 9.21% of the total issued share capital of the company immediately before completion and approximately 8.44% of the total issued share capital of the company expanded through the issuance of all subscribed shares) have been allocated and issued to the subscribers.
The net proceeds from the subscription process (after deducting the cost of the subscription item) are estimated to be approximately HK$45 million. The company intends to use the net proceeds from the subscription process for the general working capital of the Group.