Mog Digitech (01942) announced that on July 18, 2024, the company entered into a placement agreement with the placement agent and agreed to place up to 0.155 billion shares at a placement price of HKD 0.88 per share through the best efforts basis to not less than six placees.
As of the date of this announcement, the company had issued 0.776 billion shares. Assuming there is no other change in the total issued share capital of the company as of the date of this announcement and up to the completion of the placing and all 0.155 billion placing shares have been successfully placed, the placing shares would represent approximately 20.00% of the total issued share capital of the company as at the date of this announcement and approximately 16.67% of the total issued share capital of the company immediately following the completion and the issue and placing of the placing shares.
The placement price of HKD 0.88 per share represents a discount of approximately 19.27% to the closing price of HKD 1.09 per share as quoted on July 18, 2024.
Assuming all of the 0.155 billion placing shares are successfully placed, the net proceeds from the placing are estimated to be approximately HKD 0.135 billion after deducting the estimated expenses of the placing.