On September 27, Gelunhui reported that Zhengwei Group (02147.HK) announced that on September 27, 2024, the company entered into a placing agreement with the placing agent. According to this, the company appointed the placing agent to act as its agent to use its best efforts to induce no less than six placees to subscribe for up to 0.192 billion shares of placing shares at a price of HK$0.034 per share in accordance with the terms of the placing agreement and subject to its conditions and restrictions. Placing shares will be issued and distributed according to the general mandate for placing and issuance.
The placing price on September 27, 2024 (i.e. the last trading day), at a discount of approximately 20.93% from the closing market price per share of HK$0.043 per share on the Stock Exchange; the placing shares represent approximately 16.67% of the company's enlarged issued share capital after the placement and issuance of placing shares. The maximum total proceeds from the placing will be HK$6.53 million. The expected net proceeds from the placing (after deducting the placing commission payable to the placing agent and other expenses arising from the placing) will be approximately HK$6.33 million. The company intends to use the expected net proceeds from the placing for the general working capital of this group.
