On June 26, 2024, Sheung Moon (08523) announced that the company entered into a placement agreement with placement agents, intending to sell a maximum of 80 million new shares to no less than six placees through placement agents, with a placement price of HK$0.225 per share, a discount of about 10.0% from the closing market price of HK$0.250 per share on that day.
Assuming that all placement shares are successfully sold through placement agents, net proceeds of approximately HK$17.6 million will be raised, intending to be used for debt repayment of the group and to supplement the group's operational capital to support its business operations.