Summary by Moomoo AI
APOLLO announced after the trading session on 15 January 2024 that it has entered into a subscription agreement with the Subscriber Ruby Charm Investment Limited, conditionally agreeing to issue and distribute 96,130,985 shares of common stock at a subscription price of HK$0.51 per share. The acquisition will expand the company's issued shares by approximately 20% and, upon completion, will make Mr. Ho King-min the company's major shareholder, holding approximately 24.52%. The subscription proceeds will total approximately HK$49.0 million, net of related charges of approximately HK$48.0 million and will be used to repay approximately HK$10.0 million of Group debt and HK$38.0 million as general operating capital. Completion of the subscription is subject to conditions, including the approval of the IPO by the exchange. THE COMPANY REMINDS SHAREHOLDERS AND INVESTORS TO EXERCISE CAUTION AS SUBSCRIPTIONS MAY NOT BE COMPLETED.