Elife Holdings (223) has released details of a proposed placing of up to 271,220,000 new shares under a specific mandate. The placing price is set at HK$0.102 per share, representing approximately 20% of the company’s existing issued shares. If successfully placed in full, the new shares would account for around 16.67% of the enlarged share capital of the company.

According to the published information, the maximum gross proceeds are estimated at approximately HK$27.66 million, while the estimated net proceeds stand at around HK$27.13 million. These funds are intended for ongoing working capital, settlement of outstanding payables, and expansion of the company’s supply chain business.

The suggested placing is subject to the approval of shareholders at an Extraordinary General Meeting scheduled for 6 March 2026. Completion also hinges on the granting of a listing of, and permission to deal in, the new shares by the Stock Exchange. The new shares, once allotted, will rank equally with the existing issued shares. The company emphasizes that the final outcome of the placing will depend on market conditions and other factors, and no assurance can be given that the placing will proceed or be completed as planned.