Glonghui, May 8, 丨 MiG International Holdings (01247.HK) announced that on May 8, 2024, the company entered into a placement agreement with the placement agent. According to this, the placement agent agreed to do its best to place up to 28.34 million shares at the placement price. The maximum number of shares to be placed accounts for (i) about 17.92% of the company's issued share capital on the date of the placement agreement; and (ii) the company increased the issued share capital by approximately 15.19% following the completion of the placement matters. The placement price is HK$0.70 per share, which is approximately 14.6% off the closing price of HK$0.82 per share as reported on the Stock Exchange on May 8, 2024.
The net proceeds to be collected by the Company from the placement will be approximately HK$19.3 million. The net proceeds are expected to be used to further develop the Group's supply chain management business.