LEADER EDU (01449) has announced a proposed placement of up to 133 million new shares, representing approximately 20.00% of the company's existing issued share capital as of the date of this announcement, and about 16.67% of the enlarged issued share capital after the allotment and issuance of the placement shares.

The placement price is set at HK$0.265 per share, representing a discount of approximately 19.70% to the closing price of HK$0.330 per share on July 24.

Assuming all placement shares are fully subscribed, the gross proceeds and net proceeds from the placement are estimated to be approximately HK$35.33 million and HK$34.58 million, respectively.

The company intends to allocate the net proceeds from the placement as follows: approximately HK$25.94 million will be used for the group's business development in digital and smart education and teaching; the remaining approximately HK$8.64 million will be used as general working capital for the group.