Imperial Financial Group (08029) issued an announcement. The company proposes to offer shares according to the record date for each eligible shareholder holding...
According to the Zhitong Finance App, Imperial Financial Group (08029) issued an announcement. The company proposed to issue a maximum of 1,142 million shares of stock offering at a subscription price of HK$0.04 per share for every 2 existing shares held by eligible shareholders on the record date, using a total proceeds of about HK$45.7 million to raise about HK$45.7 million.
The estimated net proceeds from the stock offering will be approximately HK$44.1 million. The Company intends to use the net proceeds according to the following sequence: HK$5 million to develop new business, that is, manufacture and sell portable electronic devices and household appliances; the net proceeds amount of HK$5 million will be allocated to the Group's working capital; and the remaining HK$34.1 million will be used to repay accepted notes.