MiG International Holdings (01247) announced that on May 8, 2024, the company plans to place a maximum of 28.3392 million shares, accounting for about 15.19% of the company's expanded issued share capital. The placement price was HK$0.70 per share, a discount of approximately 14.6% compared to the closing price of HK$0.82 per share reported on May 8.
Assuming that the maximum number of 283.392 million shares placed has been placed, 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.