MIN FU INTL to Raise Approximately HK$3.17 Million via Share Placement at 18.52% Discount
Stock News
Mar 23
MIN FU INTL (08511) announced a plan to place up to 5.182 million shares, representing about 20% of the total issued shares as of the announcement date. The placement shares would account for approximately 16.66% of the enlarged share capital upon full issuance. The placement price is set at HK$0.66 per share, which represents a discount of roughly 18.52% compared to the closing price of HK$0.81 per share on March 23. Assuming all placement shares are successfully allotted, the gross proceeds from the placement are estimated to reach up to HK$3.42 million, with net proceeds expected to be around HK$3.17 million. The company intends to use the net proceeds for supplementing general working capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.