Gelonghui May 28 | HKE HOLDINGS (01726.HK) announced that the prerequisites contained in the placement agreement have been fulfilled and that the placement was completed on May 28, 2024. In accordance with the terms and conditions of the placement agreement, a total of 25.55 million shares have been allocated and issued to no less than six independent undertakers at a placement price of HK$2.00 per share.
The total proceeds from the placement will be HK$51.1 million, while the net proceeds from the placement will be approximately HK$50.59 million. The company plans to use (i) about 90% of the net proceeds to fund the fintech platform business; and (ii) about 10% of the net proceeds as the Group's general working capital.