Lianren Yifang Holdings (08305) announced that on October 16, 2023, the company intends to place up to 210 million shares of placed shares to the grantor at a price of HK$0.072 per share through a placement agent, accounting for about 16.67% of the expanded share capital. The placement price is about 22.0% premium over the closing price of HK$0.059 per share on the same day.
After completion, it is also assumed that all of the placed shares were successfully placed by the placement agent, with a net funding of HK$14.7 million, about HK$7.8 million to repay bank loans and about HK$6.9 million for the Group's general working capital.