Gelonghui, January 23, 丨 Gaoshan Enterprise (00616.HK) announced that on January 23, 2024, the placement agent entered into a conditional placement agreement with Takayama. According to this, Takayama plans to place up to 235 million shares to be placed, which is equivalent to about 227.83% of Takayama's issued share capital; and about 69.50% of Takayama's issued share capital after the allotment was expanded. The placement price is HK$0.18 per share, a discount of approximately 4.76% compared to the closing price of HK$0.1890 per share of Takayama shares on the date of the placement agreement.
It is anticipated that the maximum total and net proceeds from the placement will be approximately HK$42.3 million and HK$41.7 million respectively. Takayama plans to use the net proceeds of approximately HK$41.7 million, of which approximately HK$35 million will be used to repay bank loans to Takayama Group and the balance of approximately HK$6.7 million for general working capital of Takayama Group.