Gelonghui Group (01730.HK) announced on April 2, the board of directors hereby announced that it received a total of 17.16 million Singapore dollars of orders when the sale of the 001 series commercial paper ended today, with an oversubscription rate of about 343% 1, exceeding SGD 5 million (that is, the amount initially anticipated to be raised by the 001 series commercial paper). To address this considerable demand, the Board of Directors exercised its discretion to increase the total principal amount of the 001 series commercial paper from SGD 5 million to SGD 10 million. This is the maximum amount of capital currently authorized by the Company to be issued in connection with the plan.
As a result, the company is pleased to announce that it has successfully raised a total of SGD 10 million from issuing the 001 series commercial paper. The 001 series commercial paper will be listed on the ADDX exchange starting April 3, 2024.
Other than those disclosed above, there have been no other changes to the 001 series commercial paper.