Gelonghui, April 18, 丨 Hong Shengchang Resources (01850.HK) announced that the company concerned entered into a placement agreement with the placement agent. According to the placement agreement, the company has conditionally agreed to place up to 28.8 million shares of placement shares to no less than six undertakers at the placement price of HK$0.56 per share on a wholehearted basis through the placement agent.
On April 18, 2024, the Company and the Placing Agent agreed in writing to revise the placement price to HK$0.63 per placement share. Therefore, assuming a maximum of 28.8 million shares to be placed, the total proceeds and net proceeds (after deducting placement commissions and other related expenses) are estimated to be approximately HK$18.144 million and HK$17.444 million respectively.
Furthermore, the company has applied to the Stock Exchange to resume trading of the company's shares from 1:00 p.m. on April 18, 2024.