Gelonghui, April 15, 丨 China Energy Storage Technology Development (01143.HK) announced that on April 15, 2024, the company entered into a placement agreement with the placement agent. According to this, the company has agreed to use the placement agent to place up to 11.26 million shares at an placement price of HK$1.59 per share to no less than six (6) undertakers (they and their ultimate beneficial owners must be independent third parties).
The placement price is HK$1.59 per share, a discount of approximately 15.0% from the closing price of HK$1.87 per share as reported on the last trading day of the shares; the maximum number of placed shares is equivalent to approximately 5.4% of the company's issued share capital expanded by allocating and issuing placed shares (assuming there is no change in the company's issued share capital from the date of this announcement until completion). The total net proceeds from the placement will be approximately HK$17.5 million (after deducting commissions and other expenses relating to the placement), that is, the net issue price of each placed share is approximately HK$1.59.