According to the Zhitong Finance App, ALCO HOLDINGS (00328) announced that all the conditions set out in the placement agreement have been met and implemented on March 8, 2024. The placement agent has successfully placed a total of 15.91 million shares to no less than six undertakers at an placement price of HK$1.96 per placement share in accordance with the terms and conditions of the placement agreement.
The net proceeds from the placement were approximately HK$3.05 million. The Company intends to use the net proceeds from the placement to repay bank and other loans, settle external debts, and use the Group's general working capital.