Haina Starry Sky Technology (08297) announced that on November 3, 2023, the company plans to place up to 200 million placed shares, which is equivalent to expanding the company's issued share capital by about 16.53% through allotment and issuance of shares after completion. The placement price was HK$0.2 per placed share, a discount of approximately 15.25% from the closing price of HK$0.236 per share on November 3.
It is anticipated that the total proceeds and net proceeds from the placement will be capped at HK$40 million and approximately HK$39.7 million, respectively. The company plans to use HK$15.9 million for the development of the Big Health business; HK$11.9 million for the operation and business improvement of the underwear products segment; and HK$11.9 million for general working capital.