Tai Kam Holdings Limited (08321) said it has conditionally agreed to place up to 32 million placing shares at the placing price of HK$0.105 per placing share.
The maximum number of placing shares represents approximately 16.67% of the issued share capital of the company as enlarged. The placing price represents a discount of approximately 13.22% to the closing price of HK$0.121 per share on the date of the placing agreement.
It is expected that the maximum gross proceeds and net proceeds will be approximately HK$3.4 million and approximately HK$3.3 million, respectively. The company intends to use the net proceeds for the general working capital of the group and improve the financial position of the group which then can help to establish and strengthen the existing and future business of the group.
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