Dream Oriental (00593) issued an announcement. On February 5, 2024, the company signed a placement agreement with the placement agent,...
According to Zhitong Finance App News, Dream Oriental (00593) announced that on February 5, 2024, the company entered into a placement agreement with the placement agent. The company has agreed to place up to 109 million shares to no less than six undertakers at the placement price of HK$0.135 per share according to the best effort basis. The placement shares account for about 16.67% of the expanded company's issued share capital. HK$0.135 per share is discounted by about 15.63% of the expanded company's issued share capital.
Assuming that up to 109 million shares of the placement have all been placed, the total proceeds and net proceeds are estimated to be approximately HK$147.36,500 and HK$14.0942 million, respectively. The Company intends to use the net proceeds of the placement of HK$12.68 million to repay the Group's debts and interest expenses and HK$1.41 million as the Group's general working capital.