Summary by Moomoo AI
Apollo Smart Travel Group Co., Ltd. (the “Company”) announced that on January 24, 2024, it completed the subscription of new shares under the General Mandate and issued a total of 96,130,985 new shares representing approximately 16.67% of the total number of shares issued after the expansion. The total subscription proceeds were approximately HK$49.0 million, net of related expenses were approximately HK$48.0 million, and the net issue price per share of the subscription was approximately HK$0.50. Proceeds will be used to repay the Group's debt of approximately HK$10.0 million and as general working capital of approximately HK$38.0 million. In addition, the Company clarifies that the ultimate beneficial owner of the Subscriber, Mr. Ho King-min, owned approximately 5.90% of the Company's existing issued share capital prior to completion, which will increase to approximately 21.58% upon completion, becoming the Company's principal shareholder. The Company's shareholding structure has also been adjusted accordingly.