Rox International Holdings (01529) announced that on April 19, 2024, the company entered into a placement agreement with the placement agent. The company has agreed to place a maximum of 193 million shares to no less than six undertakers (all of whom and their ultimate beneficial owners are independent third parties) through the placement agent on a best-effort basis. The placement price is HK$0.097 per share.
The placement price of HK$0.097 per share is approximately 11.82% off of the closing price of HK$0.11 per share as reported on the date of the placement agreement; the maximum number of placed shares is equivalent to approximately 14.5% of the expanded company's issued share capital.
Assuming that the highest number of shares to be placed under the placement agreement, the total proceeds from the placement will be HK$18.71 million, and the net proceeds will be approximately HK$18.52 million (after deducting commissions and other expenses relating to the placement). The directors intend to use the net proceeds from the placement for infrastructure investment in the logistics business.