Gelonghui May 22 δΈ¨ China United Development Holdings (00264roadfighter.HK) announced that on May 22, 2024, the placing agent entered into a placing agreement with the Company, pursuant to which the placing agent has conditionally agreed to act as the Company's placing agent to procure on a best efforts basis no less than six placees (who and their ultimate beneficial owners are independent third parties) to subscribe for up to 30 million placing shares at a placing price of 0 per placing shareroadfighter.85 Hong Kong dollars.
The placing price per placing share is HK$0.85, which represents a discount of approximately 19.05% to the closing price of HK$1.05 per share of the shares quoted on the Stock Exchange on the date of the placing agreementroadfighter; the maximum number of shares placed under the Placing is equivalent to approximately 7.27% of the company's existing issued share capital of 412,704,000 shares as at May 22; after the completion of the Placing, the maximum total and net proceeds from the Placing are expected (after deducting the company's commitments)roadfighterplacing commissions, professional fees and all related expenses) will be approximately HK$25.5 million and HK$24.7 million respectively. On this basis, the net issue price will be approximately HK$0.82 per placing share.