Guanjuan Holdings (08513) issued an announcement. On December 13, 2023, the company and the placement agent entered into a placement agreement...
According to the Zhitong Finance App, Guanping Holdings (08513) issued an announcement. On December 13, 2023, the company entered into a placement agreement with the placement agent. The placement agent has agreed to act as the company's placement agent on a best-effort basis to facilitate placement of up to about 114 million shares to no less than six undertakers (they and their ultimate beneficial owners are independent third parties). The placement price is HK$0.050 per share.
Assuming that there is no change in the company's issued share capital between the date of this announcement and the date of completion, the maximum number of placed shares of about 114 million shares under the placement agreement is equivalent to 20% of the total number of shares issued on the date of this announcement; and the company's issued share capital after all allotments and issuance of placed shares have been expanded by about 16.67%.
The placement price of HK$0.050 per share was reduced by about 5.7% from the stock's closing price of HK$0.053 per share on December 13, 2023 (that is, the date of the placement agreement); and the shares were discounted by about 12.3% from the average closing price of HK$0.057 per share reported on the Stock Exchange for the last five consecutive trading days immediately before the date of the placement agreement.
Assuming all of the placed shares are fully placed, the net proceeds from the placement event are estimated to be approximately HK$5,533,700, which is equivalent to the net placement price of approximately HK$0.049 per share of the placed share. The directors intend to use the net proceeds from the placement event as the general working capital of the group.