According to Zhitong Finance App, Pacific Legend (08547) announced that on January 17, 2024 (after the trading session on the Stock Exchange), the company entered into a placement agreement with the placement agent. According to this, the company has agreed to use the placement agent to place up to 38.16 million shares of placement shares to no less than six undertakers (they and their ultimate beneficial owners must be independent third parties). The price is HK$0.21 per share compared to the closing price of the shares as reported by the Stock Exchange on the date of the placement agreement HKD premium Approximately 6.06%.
Assuming that all 38.16 million shares of the placed shares are fully subscribed, the total amount of proceeds from the placement will be approximately HK$7.98 million after the placement is completed, and the estimated total net proceeds will be approximately HK$7.8 million (after deducting commissions and other expenses relating to the placement), which is equivalent to a net issue price of approximately HK$0.205 per placed share. The directors intend to use the estimated net proceeds from the placement as the general working capital of the Group.