Delin Holdings (01709) announced that on March 21, 2024 (after the trading period), the company entered into a placement agreement with the placement agent. According to this, the placement agent conditionally agreed to place a maximum total of 100 million new shares at the placement price of HK$3.50 per share to no less than six undertakers on a best-effort basis. Placed shares will be distributed and issued in accordance with a general mandate. The placement price was discounted by approximately 14.43% from the closing price of HK$4.09 per share as reported on the date of the placement agreement.
The maximum number of shares placed is equivalent to approximately 6.88% of the total number of shares issued at the date of this announcement; and assuming that there is no change in the company's issued share capital between the date of this announcement and the date of completion, the total number of issued shares is approximately 6.44% after all allotments and the issuance of the placed shares are expanded.
The maximum net proceeds from the placement are estimated to be approximately HK$348 million.