Zhitong Finance App News, Duoxiangyun (06696) announced that the board of directors proposed to use a public sale method to propose a total of 400 million public sale shares to shareholders on the basis of allocating 1 public sale share for every 2 existing shares held. The price is HK$0.15 per share. The placement price is discounted by about 34.50% from the closing price of HK$0.229 per share on December 28, 2023. The net raise of about HK$58.79 million will be used to purchase media resources from Douyin so that customers can obtain advertising traffic on the Douyin Douyin Douyin distribution channel and online promotion traffic. Douyin distribution channels; and As the general working capital of the company.
Furthermore, underwriter Many Idea Liujianhui is a major shareholder beneficially holding approximately 130 million shares (approximately 16.31% of the number of shares issued at the date of publication of this announcement), and has agreed to underwrite the unpurchased shares in accordance with the terms and conditions set forth in the underwriting agreement.