Gelonghui, January 4, 丨 China Hengtai Group (02011.HK) announced that on January 4, 2024, the company signed a placement agreement with the placement agent. The company plans to place up to 16.73 million new shares at an placement price of HK$1.21 per share. Placed shares are equivalent to approximately 3% of the company's current issued share capital at the date of this announcement and approximately 2.91% of the company's issued share capital after all allotments and issuance of the expanded placed shares.
The maximum net proceeds from the placement are estimated to be approximately HK$19.89 million. Approximately HK$19.89 million is expected to be used as general working capital and for future business opportunities and investments.