[ET Net News Agency, 22 July 2019] Zhenro Properties Group Limited (06158) said RoYue
Limited (the vendor) has agreed to appoint a placing agent, and the placing agent has
agreed to act as agent of the vendor and to use its best efforts to procure purchasers for
up to 244.76 million existing shares at the placing price of HK$4.95. Also, the vendor has
conditionally agreed to subscribe for, and the company has conditionally agreed to allot
and issue to the vendor, up to 244.76 million new shares at the subscription price (being
the same as the placing price).
The 244.76 placing shares represent 5.6% of the enlarged total number of shares in issue
upon the completion of the subscription. The placing price of HK$4.95 per share represents
a discount of approximately 1.98% to the closing price of HK$5.05 per share on the last
trading day.
The gross proceeds from the subscription are expected to be HK$1.21 billion. The net
proceeds from the subscription (after deducting all relevant fees, costs and expenses to
be borne or incurred by the Company) are expected to be approximately HK$1.2 billion. The
company intends to use the net proceeds for possible investments in the future when
opportunities arise and as general working capital of the group. (RC)