On December 23, Gelonghui reported that CN ANCHU ENERGY (02399.HK) announced that on December 23, 2024, the company (as the issuer) entered into subscription agreements with each subscriber, according to which, (i) Chen Chuzhan has conditionally agreed to subscribe, and the company has conditionally agreed to issue and allot 48,936,000 subscription shares at a subscription price of HKD 0.50 per share; and (ii) Chen Haojun has conditionally agreed to subscribe, and the company has conditionally agreed to issue and allot 10,638,000 subscription shares at a subscription price of HKD 0.50 per share.
The subscription price of HKD 0.50 per share represents a premium of approximately 150.00% compared to the closing price of HKD 0.200 per share reported on the Hong Kong Stock Exchange on the date of the subscription agreement; together, the 59,574,000 subscription shares represent about 1.99% of the company's existing issued share capital as of the announcement date. After the completion of the subscription matters, the total amount raised from the subscription will be approximately HKD 29.8 million, and the net proceeds from the subscription (after deducting other subscription-related expenses) will be approximately HKD 29.7 million. It is expected that the net proceeds from the subscription will be used for general working capital.
