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Tencent-backed CHINA RUYI to Place Shrs at 17.5% Discount to Raise Net Proceeds of $4B
$CHINA RUYI (00136.HK)$ announced that it had entered into the Share Subscription Agreements separately with Water Lily, a wholly-owned subsidiary of TENCENT, and four independent third parties, pursuant to which the Company has agreed to allot and issue, and the Subscribers have agreed to subscribe an aggregate of 2.5 billion Subscription Shares, representing approximately 20.00% of the total issued share capital of the Company as enlarged by the allotment and issue of the Subscription Shares, at HK$1.60 per Subscription Share.
The Subscription Price of HK$1.60 per Subscription Share represents a discount of approximately 17.53% to the closing price of the stock as quoted on the Stock Exchange on the Last Trading Day prior to the trading halt. The aggregate net proceeds of the Share Subscriptions will be approximately HK$4 billion.
Application will be made by the Company to the Stock Exchange for the resumption of trading in the Shares on the Stock Exchange with effect from 9:00 a.m. on 5 July 2023.
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