According to Zhitong Finance App, Easyway Group (03893) announced that on March 22, 2024, the company plans to place a maximum of 25.92 million shares placed, which is equivalent to about 16.67% of the company's issued share capital after being expanded through all allotments and issuance of the placed shares. The placement price was HK$0.26 per share, a discount of approximately 10.34% from the closing price of HK$0.29 per share on March 22.
Assuming that all of the placed shares are fully placed, the total proceeds from the placement will be approximately HK$6.74 million, while the net proceeds from the placement will be approximately HK$6.52 million. The directors intend to use the net proceeds to pay for subcontracted expenses for the Group's interior solutions project.