Summary by Moomoo AI
Hang Yick Holdings Limited announced on June 5, 2024 that, in response to the government policy driving an increase in orders, but affected by high interest rates and a decline in the real estate market, it has decided to conduct a new share placement to meet immediate funding needs. The company intends to use the net proceeds of HKD 7.8 million from the placement for repayment of long-term debt, pre-construction expenses, and general operating capital. In addition, the company has negotiated with the placement agent to extend the final date of the placement agreement from June 12, 2024 to June 19, 2024. Approval from the Board of Directors and the Listing Committee is required for the completion of the placement and the listing of shares.
