On January 8, Gelonghui announced that CHINA FORTUNE (00110.HK) signed a subscription agreement with the subscribers on January 8, 2025. According to this agreement, the company conditionally agrees to issue and allot shares to the subscribers, who conditionally agree to subscribe for a total of 16 million shares at a subscription price of HKD 0.26 per share.
The subscription price of HKD 0.26 per share represents a premium of about 44.4% compared to the closing price of HKD 0.18 per share reported on the Stock Exchange on the date of the subscription agreement; the total number of subscription shares represents approximately 6.7% of the existing issued share capital of the company as of the announcement date. After deducting related costs and expenses, the estimated net proceeds from the subscription matter is approximately HKD 4.12 million. After deducting related costs and expenses, the estimated net subscription price per share is about HKD 0.258 per subscription share.
