Jinwu Financial News | Ziyuan Yuan (08223) rose nearly 30% to HK$1.62. The stock closed down 13% on the previous trading day.
According to the news, Zi Yuanyuan announced that it will place up to 40 million shares, accounting for about 9.09% of the expanded share capital. The placement price is HK$1.11 per share, a discount of about 13.28% from the closing price of HK$1.28 on the 12th. The total proceeds amount is about HK$44.4 million, a net amount of about HK$42.7 million, of which about 20-30% will cover ongoing administrative and operating expenses, and 70-80% will be used to develop the Group's financial leasing business and medical device and consumables trading business.