Webuy Global Settles $614,000 Debt With Share Issuance to Xue Guo Dong

Reuters
Nov 29
<a href="https://laohu8.com/S/WBUY">Webuy Global</a> Settles $614,000 Debt With Share Issuance to Xue Guo Dong

Webuy Global Ltd. has announced the settlement of accounts payable totaling approximately US$614,430.06 incurred by its 95%-owned subsidiary, PT Webuy Social Indonesia. The company resolved the debt by issuing 391,357 Class A ordinary shares, valued at US$1.57 per share, to Xue Guo Dong, the designated recipient for the creditors. This share issuance represents 20.96% of Webuy Global Ltd.'s outstanding shares, bringing the total shares issued and outstanding to 2,258,611. The transaction was formalized through debt settlement and mutual release agreements.

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