JTF INTL (09689) Plans Placement of Up to 186 Million Shares to Raise Approximately HK$125.6 Million Net
Stock News
Jul 16
JTF INTL (09689) has announced a proposed placement of up to 186 million new shares.
This issuance represents 20% of the company's existing issued share capital and approximately 16.67% of the enlarged share capital following the placement.
The placement price has been set at HK$0.69 per share.
Assuming the full placement is completed, the gross proceeds are expected to be around HK$128.3 million, with estimated net proceeds of approximately HK$125.6 million.
The company intends to allocate 90% of the net proceeds from the placement towards developing and enhancing its trade capabilities in China.
The remaining 10% is earmarked for the group's general working capital purposes.
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