Dowway Holdings Ltd. Completes Private Placement of 12 Million New Shares Under General Mandate

Reuters
17 Jun
Dowway Holdings Ltd. Completes Private Placement of 12 Million New Shares Under General Mandate

Dowway Holdings Limited has successfully completed a private placement of new shares under a general mandate. The company placed an aggregate of 12,000,000 shares at a price of HK$1.14 per share, amounting to approximately 8.82% of the existing issued share capital before the placement and about 8.11% post-placement. The gross proceeds from the placement totaled approximately HK$13.68 million, with net proceeds of around HK$12.88 million. The funds raised are intended for repayment of a promissory note, research and development costs for new business initiatives, and general working capital, including staff salaries and office expenses. The placement was conducted through a placing agent to at least six independent third-party investors, with none becoming substantial shareholders.

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