On December 31, GBA HOLDINGS (00261.HK) announced that on December 31, 2024, the company entered into a placement agreement with the placement agent, under which the placement agent (as the company's agent) conditionally agreed to use its best efforts to induce no fewer than six subscribers (and their ultimate beneficial owners must be independent third parties) to subscribe for a maximum of 194,016,000 placement shares at a placement price of HKD 0.087 per share.
The placement shares represent approximately 20.0% of the total issued shares as of the announcement date; the placement price of HKD 0.087 per share is a discount of 19.44% compared to the closing price of HKD 0.108 per share reported on the Stock Exchange on the date of the placement agreement; the net proceeds from the placement (after deducting the relevant placement commission and other related expenses (including, among others, professional fees)) are expected to be approximately HKD 15.7 million, which corresponds to a net issue price of approximately HKD 0.081 per placement share.
