Xingya Holdings (08293) announced that the board of directors recommended issuing up to 144 million shares according to the “1 for 2” benchmark...
Zhitong Finance App News, Xingya Holdings (08293) announced that the board of directors proposed issuing up to 144 million shares according to the “1 for 2” benchmark (assuming no change in the number of shares issued on or before the record date), with an issue price of HK$0.1 per share, at a discount of approximately 11.50% from the closing price of HK$0.113 per share reported on the Stock Exchange on January 30, 2024. The maximum amount raised is about HK$14.4 million (assuming all shares have been subscribed).
Assuming that there was no change in the number of shares issued on or before the record date, the maximum net share offering was approximately HK$13.6 million. About 30% was used to upgrade the Group's enterprise resource planning system and other IT infrastructure, about 30% was used to recruit or hire more employees and/or freelance contractors for the Group's Singapore business; about 20% was used to establish the Group's market base and conduct business in Hong Kong; and about 20% was used for the Group's general working capital.
Furthermore, the board of directors proposed changing the trading unit for each lot of shares traded on the Stock Exchange from 5,000 shares to 20,000 shares, with effect from 9:00 a.m. on April 5, 2024 (Friday).