Wisdom Sports (01661) announced that on March 6, 2024, the company plans to issue a total of 310 million shares to the subscriber (Gangxin Medical Technology Co., Ltd.), which is equivalent to about 16.29% of the company's issued share capital after expanding the subscription shares. The subscription price was HK$0.139 per share, a discount of approximately 19.65% from the closing price of HK$0.173 per share on March 6.
The total proceeds from the subscription process and the net proceeds will be approximately HK$43.1 million and HK$43 million respectively. The net proceeds are intended to be used to develop the Group's sporting events and provide sports services and working capital.