Capital Sector Financial Holdings (00204) issued an announcement. On the date of this announcement, all prerequisites have been met and completed on February 23, 2024. The placement agent has successfully placed 144 million shares at the placement price of HK$0.65 per share in accordance with the terms and conditions of the placement agreement, accounting for approximately 16.65% of the total issued share capital of the company which expanded through allotment and issuance of placement shares after completion.
The Company intends to use the net proceeds relating to the placement as follows: approximately HK$2 million or 2.2% of the net proceeds from the placement for loan repayment; approximately HK$9 million or 9.7% of the net proceeds from the placement for the Group's general working capital; and approximately HK$81.5 million or 88.1% of the net proceeds from the placement for any future investment opportunities the Group may seek from time to time.