Wanlida (08482) announced that on September 19, 2023, the Company entered into a placing Agreement with the placing Agent, the placing Agent has conditionally agreed to act as the placing agent of the Company to place a maximum of 221 million new shares to not less than six expected placing shares at the placing price of HK $0.100 per placing share on a best effort basis. The placing shares account for about 16.67% of the total number of shares issued after expansion, and the placing price is not discounted from the closing price of HK $0.100 per share on September 19.
The maximum net proceeds from the placing are estimated to be about HK $21.417 million. The company intends to apply the net proceeds to supplement the working capital of the Group and the business of the Development Group.