According to the Zhitong Finance App, Jutao Offshore Oil Service (03303) announced that on February 15, 2024, the company plans to place up to 200 million shares through placement agents to no less than six undertakers at an placement price of HK$0.42 per placed share, accounting for about 9.17% of the expanded share capital. The placement price is approximately 9.68% off the closing price of HK$0.465 per share as reported on the Stock Exchange on February 15, 2024.
If all of the placed shares are allocated and issued, the net funding of the placement is approximately HK$82.194 million, which is intended to be used for the construction of the Zhuhai Wharf 2 at the existing site in Zhuhai and general working capital.