Summary by Moomoo AI
Cornerstone Technology Holdings Limited announced that, according to the general authorization to issue and sell new shares agreement, it has completed the allocation of new shares on August 29, 2024. The company has issued and distributed a total of 47,820,000 new shares to not less than six placing agents, accounting for approximately 5.01% of the expanded issued share capital. The net proceeds from the allocation is approximately HKD 24,000,000, which will be used for the company's general working capital. After the allocation, there have been changes in the company's equity structure, but none of the placing agents have become major shareholders of the company. The board of directors confirms that all placing agents and their ultimate beneficial owners are not related parties of the company. Details of this share allocation have been announced on the website of The Stock Exchange of Hong Kong Limited and the company's website.