GCL TECH (03800) announced that on December 18, 2024, the company plans to place a maximum of 15.60...
According to the ZhTong Finance APP, GCL TECH (03800) announced that on December 18, 2024, the company intends to place up to 1.56 billion shares, representing approximately 5.79% of the company's total issued share capital as of the date of this announcement and approximately 5.48% after the proposed placement of shares. The placement price is set at 1.0 Hong Kong dollar per share.
Assuming all placement shares are fully placed, the total proceeds from the placement are expected to amount to approximately 1.56 billion Hong Kong dollars, with the expected net proceeds totaling around 1.53 billion Hong Kong dollars. The company intends to use the net proceeds from the placement for capital expenditures and general working capital purposes.
In addition, according to Listing Rules 13.09 and 37.47B and Part XIVA of the Securities and Futures Ordinance, the company is currently exploring the possibility of issuing convertible Bonds under the issuing authorization, which is expected to be initiated around January 2025. As of the date of this announcement, the company is negotiating with potential independent investors regarding the possible issuance and subscription of convertible Bonds, with a total principal amount expected to reach up to 0.5 billion US dollars. The pricing of such convertible Bonds is also expected to be conducted on market terms. If a subscription agreement for the issuance and subscription of convertible Bonds is signed, the company will make further announcements regarding the potential issuance.