Jingu Finance News | GCL TECH (03800) was down in early trading, as of the time of writing, falling 6.61% to HKD 1.13, with a trading volume of HKD 0.174 billion.
The company announced that on December 18, 2024 (after trading hours), it intends to place up to 1.56 billion new shares, accounting for approximately 5.48% of the enlarged issued share capital, with a placement price of HKD 1 per share, representing a discount of about 17.36% to the closing price of HKD 1.21 on the last trading day. The total amount raised from the placement will be approximately HKD 1.56 billion, and the net proceeds from the placement will be approximately HKD 1.53 billion. The company intends to use the net proceeds from the placement for capital expenditures and general working capital purposes.
