Glonghui March 1 | Heritage Education Group (08195.HK) announced that the company intends to raise capital through the issuance of new shares under a general mandate and is actively considering appointing a placement agent for proposed placements with a target fundraising scale of HK$30 million and a proposed placement price of HK$1.20 to HK$1.30 (depending on market conditions).
The completion of the proposed placement is subject to market conditions and investor enthusiasm. If the proposed placement is completed, the Company intends to use the net proceeds from the proposed placement (i) to fund potential expansion relating to the Group's main business (including financial and investment education courses and private supplementary education services); and (ii) for working capital and general corporate purposes.