Gelonghui, Feb. 7, 丨 Guofu Innovation (00290.HK) announced that at 4:00 p.m. on January 26, 2024 (Friday) (the final acceptance period), the company has received valid applications and acceptance of eight (8) provisional quota notices, involving a total of 2,367 billion shares offered for sale, which is equivalent to about 49.90% of the total number of shares offered for sale under the share offering. Furthermore, as of the record date, since there were no excluded shareholders, none of the excluded shareholders in relation to the excluded shareholders had not sold the shares offered. In response to the valid application and acceptance results under the above provisional quota notice, 2,377 billion shares have not been subscribed for purchase, which is equivalent to about 50.10% of the total number of shares offered for sale under the share offering.
At 6:00 p.m. on February 5, 2024 (Monday) (that is the deadline for placement agents to place unsubscribed shares), all 2,377 billion unsubscribed shares were successfully placed at a price of HK$0.10 per share (equivalent to the subscription price) in accordance with the placement matters. As a result, there is no net proceeds to be distributed to non-acting shareholders under the compensation arrangement.
According to the acceptance results of the share offering and the placement results under the compensation arrangement, the total number of shares offered to be allocated and issued was 4.745 billion shares, which is equivalent to 100% of the total number of shares offered for subscription under the share offering.
The total amount of proceeds raised from the share offering is approximately HK$474 million, while the net proceeds from the share offering are approximately HK$471 million. The intended use of the net proceeds is as follows: (A) approximately HK$244 million is used as working capital for the Group's main business (i.e. debt lending business, margin financing business, asset management business and corporate finance business); (B) approximately HK$140 million is invested as seed capital in investment funds to be established in the Group's asset management business; (C) approximately HK$52.82 million is used as the Group's general operating capital, including group employee costs Rental expenses and other office Expenses; (D) approximately HK$24 million to incubate and operate companies in the fintech sector; and (E) approximately HK$10 million to repay the principal and accrued interest of corporate bonds due and payable between December 2023 and April 2024 (the total outstanding amount is approximately HK$14.46 million).