Gelonghui January 22丨Guangjun Group Holdings (08516.HK) announced that all conditions set out in the placement agreement have been met and implemented on January 22, 2024. In accordance with the terms and conditions of the placement agreement, the placement agent successfully placed a total of 22.8 million shares to no less than 6 undertakers at an placement price of HK$0.10 per placed share, accounting for approximately 16.64% of the company's issued share capital which was expanded by allocating and issuing the placement shares immediately after completion.
After deducting commissions and other expenses relating to the placement, the net proceeds from the placement were approximately HK$2.1 million. The Company intends to use the net proceeds as the Group's general working capital.