On December 17, Ge Longhui | STERLING GP (01825.HK) announced that on December 17, 2024, the company signed a placement agreement with the placement agent. The company plans to place up to 57.6 million shares at the placement price of HK$0.070 per share, which is equivalent to 20% of the total number of existing issued shares; and the total number of issued shares after the allocation was expanded. The placement price was HK$0.070 per share, a discount of approximately 18.6% per share from the closing price of HK$0.086 per share reported on the Stock Exchange on the date of the placement agreement.
The net proceeds from the placement are expected to be approximately HK$3.95 million. The Company intends to use the full net proceeds from the placement for general working capital purposes to meet its continued development and existing operations and/or business development.
