Min Fu Intl (08511) announced that on August 13, 2024 (after the trading period on the Stock Exchange of Hong Kong), the company and...
According to the announcement by Min Fu Intl (08511) on the Smart Investment News app, on August 13, 2024 (after the trading period on the Stock Exchange of Hong Kong), the company entered into a placement agreement with the placement agent. As a result, the company conditionally agreed to place no more than 1.44 billion shares of share subscription to no fewer than six subscribers through the placement agent to the best of its ability, at a placement price of HK$0.024 per subscription share, a discount of approximately 14.29% from the closing price per share of HK$0.028 as reported on the Stock Exchange of Hong Kong on the date of the placement agreement.
The announcement stated that the estimated maximum net proceeds of the placement will be approximately HK$3.2 million, which is equivalent to the net issue price of approximately HK$0.022 per subscription share. The maximum net proceeds from the placement are intended to supplement the company's general working capital.