Summary by Moomoo AI
HENG YU GROUP HOLDINGS LIMITED (THE “COMPANY”) WILL HOLD AN EXTRAORDINARY GENERAL MEETING ON 3 MAY 2024 TO CONSIDER PROPOSALS SUCH AS INCREASED STATUTORY SHARE CAPITAL, SHARE CONSOLIDATION AND NON-OUTSOURCING BASIS FOR SHARE OFFERINGS. The offering shares will be issued on the basis of four shares for each consolidated share held at a subscription price of HK$0.034 per share for each share of common stock (or HK$0.68 per share after the merger). Distribution Agent Hengyu Securities Limited will distribute the unsubscribed shares on an appropriate basis. The net proceeds from dividends are estimated to be up to approximately HK$157.847 million and will be used to repay bank loans and overdraft and supplement working capital. The Notice of the Extraordinary General Meeting was issued on 11 April 2024.