{Economic Information Daily, 14th} Boreton (01333) is currently up 2.9%, trading at HK$13.27, with approximately 450,000 shares traded, involving HK$60.4 million, reaching a high of HK$13.68 and a low of HK$12.90.
Boreton announced plans to place up to 18.3162 million new shares to no fewer than six independent cornerstone investors, representing approximately 4.3% of the enlarged issued share capital. The placement price is set at HK$12.06 per share, representing a discount of approximately 6.51% to the closing price of HK$12.90 on the previous trading day, with estimated net proceeds of approximately HK$199 million.
Boreton stated that approximately 60% of the net proceeds from the placement will be used for investment in and development of overseas solar and storage microgrid projects, approximately 20% will be used to repay interest-bearing borrowings, and the remaining approximately 20% will be used for working capital and general corporate purposes.
The board believes that conducting equity financing in stages enables the Group to align fundraising timing and amounts with funding requirements at different stages of business development, while maintaining financial flexibility, broadening the shareholder and capital base, and serving the overall interests of the Company and its shareholders. The Company noted that the fundraising aims to further strengthen financial resources to support the sustainable development of overseas solar and storage microgrid businesses, allowing the Group to promptly allocate funds when suitable project opportunities arise, reducing the risk of project delays due to financing and cross-border fund allocation.
Currently, the Hang Seng Index stands at 24,244, down 100 points or 0.4%, with turnover on the main board nearing HK$23.9 billion. The Hang Seng China Enterprises Index stands at 8,144, down 29 points or 0.4%. The Hang Seng Tech Index stands at 4,140, up 3 points or less than 0.1%. (vs)
Boreton announced plans to place up to 18.3162 million new shares to no fewer than six independent cornerstone investors, representing approximately 4.3% of the enlarged issued share capital. The placement price is set at HK$12.06 per share, representing a discount of approximately 6.51% to the closing price of HK$12.90 on the previous trading day, with estimated net proceeds of approximately HK$199 million.
Boreton stated that approximately 60% of the net proceeds from the placement will be used for investment in and development of overseas solar and storage microgrid projects, approximately 20% will be used to repay interest-bearing borrowings, and the remaining approximately 20% will be used for working capital and general corporate purposes.
The board believes that conducting equity financing in stages enables the Group to align fundraising timing and amounts with funding requirements at different stages of business development, while maintaining financial flexibility, broadening the shareholder and capital base, and serving the overall interests of the Company and its shareholders. The Company noted that the fundraising aims to further strengthen financial resources to support the sustainable development of overseas solar and storage microgrid businesses, allowing the Group to promptly allocate funds when suitable project opportunities arise, reducing the risk of project delays due to financing and cross-border fund allocation.
Currently, the Hang Seng Index stands at 24,244, down 100 points or 0.4%, with turnover on the main board nearing HK$23.9 billion. The Hang Seng China Enterprises Index stands at 8,144, down 29 points or 0.4%. The Hang Seng Tech Index stands at 4,140, up 3 points or less than 0.1%. (vs)
