Gelonghui, January 29丨Tibet Water Resources (01115.HK) issued an announcement. On January 26, 2024, the company entered into a placement agreement with the placement agent (i.e. SDIC Securities Limited). According to this, the placement agent has conditionally agreed to place up to 500 million shares to the consignee at an placement price of HK$0.218 per share at the placement price of HK$0.218 per share. Assuming the successful placement of all 500 million placed shares, the placed shares account for about 12.26% of the company's current issued share capital, and about 10.92% of the issued share capital after being expanded through allotment and issuance of all placed shares.
The placement price of HK$0.218 per share is approximately 11.38% off the closing price of HK$0.246 per share as reported on the Stock Exchange on the date of the placement agreement. Assuming that all the shares placed are placed, the total proceeds from the placement will be HK$109 million, while the net proceeds from the placement will be approximately HK$105.8 million. The Company intends to use the proceeds to repay part of the Company's convertible bonds due in 2024; and for the Group's general working capital.