Gelonghui, Feb. 16, 丨 China Environmental Resources (01130.HK) announced that on February 16, 2024, the placement agent entered into a placement agreement with the company. According to this, the company plans to place up to 407 million shares, which is equivalent to 20.00% of the company's existing issued shares; and to expand 16.67% of the issued share capital through allotments. The placement price is HK$0.04 per share, a discount of approximately 7.0% from the closing price of HK$0.043 per share reported on the Stock Exchange on the date of the placement agreement.
It is anticipated that the total amount of proceeds from the placement and the maximum net proceeds will be approximately HK$16.3 million and approximately HK$15.8 million respectively.