On July 9, Glo-ray announced that on July 9, 2024, the company entered into a placement agreement with the placement agent. The company plans to issue up to 33.91 million shares, accounting for approximately 20.00% of the total number of shares already issued on the date of the placement agreement and approximately 16.67% of the total number of shares issued after the issuance and placement of the shares. The placement price of HKD 0.15 per share is the same as the closing market price of the shares on the Stock Exchange of Hong Kong on the date of the placement agreement.
The net proceeds from the placement will be approximately HKD 4.9 million, which will be used for the development of electric vehicle charging businesses in Hong Kong.