ORIENTAL PAY Group Holdings (08613) announced that on December 17, 2024, the company will enter into a placement agreement with the placement agent...
According to the Zhitong Finance APP, ORIENTAL PAY Group Holdings (08613) announced that on December 17, 2024, the company has entered into a placement agreement with the placement agent, agreeing to place up to 37.15 million placement shares to no fewer than six placees at a placement price of HKD 0.21 per share through the placement agent. The company will issue the placement shares to the placees based on general authorization.
As of the date of this announcement, the company has issued a total of 1.898 billion shares. Assuming that the total issued share capital of the company remains unchanged from the date of this announcement to the completion date and all 37.15 million placement shares are successfully placed, the placement shares will account for approximately 1.96% of the total issued share capital of the company as of the date of this announcement, and approximately 1.92% of the total issued share capital of the company after the shares are allotted and issued upon completion. The placement price of HKD 0.21 per placement share represents a premium of approximately 64.06% compared to the closing price of HKD 0.128 per share on December 17.
Assuming all 37.15 million placement shares are successfully placed, the total amount raised from the placement is approximately HKD 7.8 million, while the net proceeds from the placement are estimated to be approximately HKD 7.7 million (after deducting estimated expenses of the placement). The company intends to use the net proceeds primarily to repay part of the group's existing debts. If any portion of the net proceeds is not used for this purpose, it will be used for the group's general working capital.