Gelonghui, March 15, 丨 Jixing New Energy (03395.HK) announced that on March 14, 2024, the company signed three subscription agreements with the subscribers (namely Bai Tian, Lin Haoyue and Tian Chong, all Chinese citizens). According to this, the company conditionally agreed to allocate and issue, and the subscribers conditionally agreed to subscribe for a total of 33 million subscription shares. The subscription price was HK$0.22 per share.
Subscribed shares accounted for approximately 6.74% of the issued share capital at the date of this announcement; and approximately 6.31% of the issued share capital after being expanded through allotment and issuance of subscribed shares. The subscription price for each subscribed share is HK$0.22, which is approximately 9.45% premium per share over the closing price of HK$0.201 reported on the Stock Exchange on March 14 (the date of the subscription agreement).
The total proceeds from the subscription are estimated to be approximately CAD 1,253,800 (equivalent to HK$7.26 million). The net proceeds from the subscription process were approximately $1,2361 million (equivalent to approximately HK$7.157,500). The company intends to use the net subscription proceeds as general working capital. The company will apply to the Stock Exchange Listing Committee for approval to subscribe for shares to be listed and traded on the Stock Exchange.