JTF INTL (09689) has announced a proposed placement of up to 186 million new shares.

This issuance represents 20% of the company's existing issued share capital and approximately 16.67% of the enlarged share capital following the placement.

The placement price has been set at HK$0.69 per share.

Assuming the full placement is completed, the gross proceeds are expected to be around HK$128.3 million, with estimated net proceeds of approximately HK$125.6 million.

The company intends to allocate 90% of the net proceeds from the placement towards developing and enhancing its trade capabilities in China.

The remaining 10% is earmarked for the group's general working capital purposes.