TC

22/10/2019 11:09

Newtree Group (01323) to place shares for HK$115m

[ET Net News Agency, 22 October 2019] Newtree Group Holdings Limited (01323) said it
has conditionally agreed to place up to 250 million placing shares at the placing price of
HK$0.46 per placing share to not less than six placees.
The maximum number of placing shares represents approximately 9.06% of the issued share
capital of the company as enlarged by the allotment and issue of the placing shares. The
placing price represents a discount of approximately 11.88% to the benchmarked price of
the shares.
It is expected that the maximum gross proceeds and net proceeds from the placing will be
approximately HK$115.0 million and HK$111.4 million respectively. The net proceeds are
intended to be used for repayment of convertible bonds of the company and funding the
potential acquisition of the remaining 80% of the issued share capital of Alpha Youth
Limited. (RC)

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