Summary by Moomoo AI
APOLLO SMART TRAVEL GROUP LIMITED ANNOUNCED ON 15 MARCH 2024 THAT IT HAS ENTERED INTO SUBSCRIPTION AGREEMENTS WITH SEVERAL SUBSCRIBERS CONDITIONALLY AGREEING TO ISSUE AND ISSUE A TOTAL OF 445,652,177 NEW SHARES AT A SUBSCRIPTION PRICE OF HK$0.46 PER SHARE. This subscription will raise approximately HK$205,000,000, net of approximately HK$162,500,000, net of related costs. The net proceeds will be used to develop the operating services business, repay debt and as general operating capital. Connected transactions involving the subscription are subject to approval by independent shareholders at the Extraordinary General Meeting and pending the approval of the Listing Committee of the Exchange for the IPO and subsequent sale of the shares. The Company will send a circular to shareholders on or before 10 April 2024 regarding the subscription. Shareholders and potential investors should note that subscriptions are still subject to pre-requisites and are not necessarily carried out.