Yichen Group (08365) announced that on February 23, 2024, the company plans to issue a total of 7.136 million new shares to subscribers, which is equivalent to about 16.7% of the expanded company's issued share capital.
The subscription price was HK$1.40 per subscription share, a 47.4% premium over the closing price of HK$0.95 per share on February 23. Proceeds from the subscription will be HK$9.994 million. The company intends to use the proceeds from the subscription as the general working capital of the Group.