On July 15, 2025, VIRTUAL MIND (Stock Code: 01520) unveiled a strategic capital initiative, announcing plans to place a maximum of 158.6 million new shares. This substantial offering carries a placement price of HK$0.52 per share, representing roughly 16.67% of the company's enlarged issued share capital post-completion.
Should the entire placement be successfully subscribed, gross proceeds are projected to reach HK$82.49 million. After accounting for associated transaction costs and expenses, net proceeds are anticipated to total approximately HK$79.92 million. The company intends to allocate these funds toward three primary objectives: repaying outstanding liabilities, accelerating business development initiatives, and bolstering general working capital requirements across the group.
This financing move comes as VIRTUAL MIND positions itself for enhanced operational flexibility while managing existing debt obligations. The carefully calibrated share placement strategy aims to strengthen the company's financial foundation without disproportionately diluting existing shareholder value.
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