Congyu Intelligent Agricultural Holdings Ltd. has completed a private placement of 91,021,689 new shares under its general mandate. The new shares were placed at a price of HK$0.29 each to no fewer than six investors, representing approximately 16.7% of the enlarged share capital of the company. Following the placement, the total number of issued shares increased to 546,130,134. The net proceeds of the placement, estimated at about HK$25.9 million, will be used primarily for loan repayment, the development of an agricultural vertical e-commerce platform and low-altitude economy initiatives, as well as general working capital.
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