Gelonghui, October 28 | ALCO HOLDINGS (00328.HK) announced that on October 28, 2024, the company entered into a placement agreement with the placement agent. According to this, the company has conditionally agreed to place a maximum of 19,090,000 placement shares to the consignee at an placement price of HK$3.49 per share on a best-effort basis through the placement agent, and such undertakers and beneficial owners must be independent third parties.
The maximum number of shares to be placed is 19,090,000 shares equivalent to approximately 16.66% of the company's issued share capital by allocating and issuing the placed shares. The placement price of $3.49 is approximately 19.77% off the closing price of HK$4.35 per share as reported on the date of the placement agreement; total proceeds and net proceeds (after deducting placement commissions and other related expenses) are estimated to be approximately HK$66.6 million and HK$65.2 million respectively. The Company intends to use the net proceeds from the placement to repay bank and other loans, settle external debts, and general working capital of the Group.
