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Milan Station Concludes Successful Share Placement
Milan Station (01150.HK) successfully allocated 0.176 billion new shares, raising approximately HK$13.7 million in net proceeds.
Milan Station (01150.HK) announced on July 16 that the conditions for the allocation have been met and the allocation has been completed on July 16, 2024. The allocation agent has successfully allocated a total of 0.176 billion shares to no less than six underwriters at HKD 0.08 per share. The net proceeds from the allocation amount to approximately HKD 13.7 million. The net proceeds raised per share allocated will be approximately HKD 0.078. The company plans to use the net proceeds from the allocation for general operating capital.
Milan Station (01150) plans to sell up to 176 million shares at a premium of approximately 2.5% with a net equity of approximately HKD 13.7 million raised.
Milan Station (01150) announced that on June 25, 2024 (after the trading session), the company and the placement agent entered into a placement agreement. The placement agent agrees to allocate up to 176 million new shares to no fewer than six independent underwriters based on their best efforts, and the subscription price for each share is HKD 0.08. The subscription price is about 2.5% higher than the closing price of HKD 0.078 per share of the stock reported in the Stock Exchange of Hong Kong on June 25, 2024 (i.e. the date of the placement agreement). The maximum number of 176 million shares for subscription is equivalent to 8 of the company's fully issued shares on the date of this announcement.
Express News | Milan Station - to Place up to 176.2 Mln New Shares at HK$0.08 per Placing Share
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MILAN STATION: ANNUAL REPORT 2023
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