Zhitong Financial App News, Guomao Holdings (08428) announced that on December 15, 2021, the company (as issuer) entered into a placing agreement with the placing agent (Oriental Huicai Securities Co., Ltd.), according to which the company intends to submit for subscription, and the placing agent has agreed to urge not less than six Placees to subscribe for up to 28.8 million placing shares at a price of HK $0.12 per placing share during the placing period on a dedicated basis. The placing price of HK $0.12 represents a discount of approximately 12.41% to the closing price of HK $0.1370 per share as quoted on the Stock Exchange on the date of the placing Agreement.
It is reported that the placing shares will be allotted and issued in accordance with the General mandate. The company will apply to the GEM listing Committee for approval for the listing and trading of the placing shares. The total maximum proceeds from the placing will be about HK $3.5 million. The maximum net proceeds from the placing (after deducting commissions payable to the placing agents, professional fees and other related costs and expenses arising from the placing) will be approximately HK $3.4 million and will be used as the general working capital of the Group.