TONTINE WINES (00389) Plans Placing at Approximately 18.99% Discount, Targeting Net Proceeds of Up to HK$8.38 Million

Stock News

Jul 26

TONTINE WINES (00389) has announced a placing arrangement. On July 26, 2026, the company plans to place up to 60,312,360 placing shares through a placing agent at a price of HK$0.145 per share. This price represents a discount of approximately 18.99% compared to the closing price on July 24, 2026.

Assuming all placing shares are fully subscribed, the company expects to net approximately HK$8.38 million from the placing. The proceeds will be allocated as follows: 80% will be used to repay the group's outstanding borrowings and interest; 10% will be used to pay legal and professional fees incurred during the year along with payables; and the remaining 10% will supplement the group's general working capital to cover employee costs, rent, and other operating expenses.

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