Summary by Moomoo AI
Chongqing Hongqiu Fruit Co., Ltd. (Hongqiu Fruit Products) announced that it has entered into a distribution agreement with its distribution agent on 21 January 2024 to sell up to 1 million shares of new H shares at a price of HK$4.35 million per H share. The share price is the same as the closing price on January 19, 2024 and is approximately 2.68% off the average closing price for the last five trading days. Upon completion of the divestiture, it is expected to raise a maximum of approximately HK$822.2 million, net of approximately HK$800.6 million, net of related expenses. Proceeds will be used to strengthen the fruit supply chain, repay interest debt, replenish liquidity and other general corporate purposes. The distributed shares represent approximately 19.95% of the...Show More