EV Dynamics (Holdings) Ltd. has completed a placing of 20 million new shares under a general mandate, representing approximately 6.31% of the company's enlarged issued share capital. The shares were placed to not fewer than six independent investors at a price of HK$0.78 per share, raising net proceeds of about HK$15.4 million. The company plans to use approximately HK$12.0 million of the proceeds for the development and expansion of its new energy and e-Mobility Solutions business, with the remaining HK$3.4 million to be used for general working capital. None of the placees will become substantial shareholders as a result of this transaction.
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