NEXION TECH (08420) announced that on September 25, 2023, the company entered into a placing agreement with the placing agent to place a maximum of about 148 million placing shares to not less than six placeholders through the placing agent, accounting for approximately 16.67% of the enlarged share capital at a placing price of HK $0.024 per share, a discount of about 17.24% to the closing price of HK $0.029 per share on that day.
Assuming that a maximum of about 148 million placing shares are placed, a net fund of about HK $3.4 million will be raised, which is intended to be used as the general working capital of the Group.