Kuang Yi International (01683) announced that all conditions for the placement have been met and completed on March 15, 2024...
According to the Zhitong Finance App, Kuangyi International (01683) issued an announcement. All conditions for the placement have been met, and the completion was implemented on March 15, 2024. The placement agent successfully placed a total of 259 million shares to no less than six undertakers at an placement price of HK$0.105 per placed share, which is equivalent to approximately 16.67% of the issued share capital of the company immediately after completion of the expansion of the allotment and issuance of the placed shares.
After deducting placement commissions and other costs and expenses associated with the placement, the net proceeds from the placement were approximately HK$268.34,800. The company plans to use the net proceeds from the placement to repay the Group's interest-bearing loan of HK$30 million due in April 2024 and accrued interest.