Future data Group (08229) announced that on 12 October 2023, the company entered into a subscription agreement with the subscriber Luo Yiqin, the subscriber has conditionally agreed to subscribe, and the company has conditionally agreed to allot and issue a total of 675000 subscription shares at a subscription price of HK $0.74 per subscription share.
The subscription shares account for about 0.12% of the issued share capital of the enlarged company. The subscription price of HK $0.74 per subscription share is about 3.9% off the closing price of HK $0.77 per share on October 12, 2023.
The estimated net proceeds from the subscription will be about HK $480000. The proceeds are currently proposed to be used for the general working capital of the Group.
The subscription shows that the subscribers' confidence in the Group's business and future development will enhance the subscribers' sense of belonging to the Group.