Peilinong (01498) issued an announcement. On March 28, 2024, the company and the placement agent signed an placement agreement...
According to Zhitong Finance App, Peilinong (01498) issued an announcement. On March 28, 2024, the company signed a placement agreement with the placement agent. According to the placement agreement, the company has agreed to allocate and issue conditionally, and the placement agent has agreed to place up to 50 million new shares at the placement price of HK$0.78 per share to no less than six undertakers according to the best of their ability. Placed shares will be issued under a general mandate.
The placement price of HK$0.78 per share is 6.02% off the closing price of HK$0.83 per share as reported on the Stock Exchange on March 28, 2024 (the date of the placement agreement). Placed shares are equivalent to approximately 12.6% of the company's current issued share capital, and approximately 11.2% of the company's issued share capital after being expanded through allotment and issuance of placed shares.
The total amount of the expected net proceeds is approximately HK$37.7 million to be used by the company as the general working capital of the Group.