Yaoxing Technology Group (08446) issued an announcement. On December 18, 2023, the company entered into such subscription agreements with such subscribers (Li Yuanming, Romanli and Yingxin Assets). The company conditionally agreed to distribute and issue to such subscribers in accordance with general authorization, and the subscribed parties also conditionally agreed to subscribe for a total of 81.32 million shares at a subscription price of HK$1.03 per share. The subscribed shares accounted for about 9.09% of the company's issued share capital after the expansion. The share price of HK$1.24 was discounted by approximately 16.9%.
The net proceeds from the subscription event are estimated at approximately HK$83.2 million. The company intends to use the net proceeds for general corporate and working capital purposes.