Glonghui, December 27, 丨 Brilliant Tomorrow (01351.HK) announced that on December 27, 2023, the company (as issuer) signed two subscription agreements with two subscribers. According to this, the company plans to allocate and issue a total of 100 million subscribed shares, which is equivalent to about 20.00% of the existing issued share capital; and about 16.67% of the issued share capital after expanding the distribution and issuance of subscribed shares. The subscription price of HK$0.145 per share is approximately 12.12% off of the stock closing price of HK$0.165 per share on December 27, 2023.
The estimated net proceeds from the subscription will be approximately HK$13.5 million. Proceeds from the project are intended to be used to (i) potential future acquisitions or projects; and (ii) supplement the Group's general working capital.