Takayama Enterprise (00616) and Yongyi International (01218) jointly announced that the board of directors of Takayama is pleased to announce that all conditions of the placement agreement have been fulfilled and that the placement was completed on April 17, 2024. A total of 235 million shares have been successfully placed by the placement agent to no less than 6 undertakers at a placement price of HK$0.18 per share in accordance with the terms and conditions of the placement agreement, which is equivalent to approximately 69.50% of the issued share capital of Takayama, which was expanded through allotment and issuance of the placement shares immediately after completion.
The total and net proceeds from the placement were approximately HK$42.3 million and HK$41.7 million respectively, of which approximately HK$35 million was used to repay bank loans to Takayama Group and the balance of approximately HK$6.7 million was used as the general working capital of Takayama Group.