Yaoxing Technology Group (08446) announced that on April 8, 2024, the company entered into such subscription agreements with these subscribers (Li Yuanming, Romanli, Yingxin Asset and Lo Jiaqi). The company conditionally agreed to distribute and issue to such subscribers under a general mandate, and those subscribers also conditionally agreed to subscribe for a total of 101 million shares at a subscription price of HK$0.165 per share.
Subscription shares account for about 11.09% of the expanded issued share capital. The subscription price was discounted by approximately 17.50% per share from the closing price of HK$0.200 on April 8, 2024. The net proceeds from the subscription are estimated to be approximately HK$16.2 million.