Gelonghui, Feb. 21 | Green Economy (01315.HK) announced that the company proposed to raise up to HK$36.2 million (before deducting professional fees and other related expenses) by issuing a maximum of 224,999,972 shares offered at the subscription price for each of the two (2) shares held on the record date, by issuing up to 224,999,972 shares to eligible shareholders (assuming that the company's share capital did not change on or before the record date).
The estimated net proceeds from the share offering will be up to approximately HK$34.5 million (assuming (i) full acceptance of the offering by eligible shareholders; and (ii) there is no change in the company's share capital on or before the record date). The Company intends to use the net proceeds for (i) investments in other business opportunities as the Group identifies from time to time; and (ii) general administrative expenses and other general working capital purposes.