On January 2, Gelonghui announced that GAODI HOLDINGS (01676.HK) received a total of 6 valid acceptance letters by 4:00 PM on December 9, 2024, for a total offering of 4,174,857 shares, accounting for approximately 5.42% of the total shares available for subscription under the offering. No fractional allocations of shares will arise under the offering. Therefore, 72,830,143 shares, accounting for approximately 94.58% of the total shares available for subscription under the offering, remain unsubscribed, and these will be placed by the placement agent between December 24 and December 31, 2024, in accordance with the compensation arrangement.
30,260,000 unsubscribed offering shares (equivalent to approximately 39.30% of the total shares available for subscription under the offering) have been successfully placed by the placement agent at a placing price of HKD 0.40 per offering share (the same as the subscription price) to no fewer than six (6) subscribers. Therefore, there are virtually no net proceeds from the compensation arrangement available for distribution to non-action shareholders.
All conditions concerning the offering and placing agreement outlined in the offering circular have been met, and the offering and placing agreement became unconditional at 4:00 PM on December 31, 2024.