ITC Properties Extends Deadline for Share Subscription

MT Newswires Live

Feb 03

ITC Properties Group (HKG:0199) said it extended the fulfillment date of its previously announced share subscription under a general mandate to March 2 from Feb. 2, according to a Tuesday Hong Kong bourse filing.

The company said the extension was agreed with the subscriber as additional time is required to satisfy the subscription conditions.

The deal involves the sale of 11.5 million shares to existing investor Hon Ng Kit Chong and 130 million shares to substantial shareholder The Reynold Lemkins Group (Asia) at HK$1.14 each.

Reynold Lemkins will also receive warrants to purchase 180 million shares at HK$1.704 each within one year.

Proceeds will be used to advance strategic initiatives, including upgrading the group's property business and exploring Web3 and real-world asset tokenization projects.

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