Summary by Moomoo AI
Heritage Education Group Limited (the “Company”) entered into a distribution agreement with the selling agent China Shun Securities Futures Limited following the trading period of 19 March 2024, conditionally agreeing to sell a maximum of 38,462,000 shares of common stock through a distribution agent to not less than six independent third party holders at a distribution price per Shares HK$1.30. The share price was approximately 19.75% off the closing price of the Company's shares at the date of the distribution agreement. The allotted shares represent approximately 9.2% of the Company's existing issued share capital and 8.4% of the enlarged share capital. Total and net proceeds from distribution are expected to be HK$50.0 million and HK$49.4 million, respectively. The net proceeds will be used for...Show More