Rice Bug Metaverse (08645) announced that on March 24, 2024, the company plans to sell up to 120 million...
According to Zhitong Finance App, MiBong Yuanwei (08645) announced that on March 24, 2024, the company plans to place up to 120 million shares, accounting for about 16.67% of the expanded company's issued share capital. The placement price of HK$0.218 per share was discounted by approximately 19.26% from the closing price of HK$0.27 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$26.2 million. The net proceeds are estimated to be approximately HK$25.6 million. The company plans to use approximately HK$15.6 million of the net proceeds from the placement to apply for the relevant licenses required to operate a virtual asset trading platform, and the remaining HK$10 million for the Group's general working capital (including R&D expenses, marketing expenses, administrative expenses and other operating expenses) for the Group's development of blockchain technology.
Furthermore, the company has applied to the Stock Exchange to resume trading of shares on the Stock Exchange starting at 9:00 a.m. on March 26, 2024.