Cinderella Media (00550) said it agreed to place a maximum of 35 million new shares at HK$2.05 per share, representing a discount of about 19.29% to the closing price of HK$2.54.
The placing shares represent around 9.46% of the enlarged issued share capital of Cinderella Media.
The estimated net proceeds of about HK$71 million will be applied for repayment of shareholder's loan; development of company's existing business; and general working capital of the company and potential investments to be identified.
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