Tibet Water Resources (01115) issued an announcement. The board of directors is pleased to announce that all prerequisites have been met and completed on February 21, 2024. A total of 500 million shares placed have been successfully placed to no less than six undertakers at the placement price of HK$0.218 per share. Placed shares account for approximately 10.92% of the company's issued share capital after completion and expansion through the issuance of placed shares.
Based on the actual number of placed shares placed, the net proceeds were approximately HK$106 million. The Company intends to use 50% of the net proceeds (approximately HK$52.9 million) to repay part of the convertible bonds; and the remaining 50% (approximately HK$52.9 million) for the Group's general working capital.