News summary
Bioco Holdings entered into an agreement with Fuhui Securities to place 24 million shares and raise approximately HK$96.7 million, mainly for existing business and MetaSpaceXWeb3 projects.
Newsletter text
[Yao Gao Holdings announced that it would raise approximately HK$96.7 million through placement] On April 23, Yao Gao Holdings (01796joyfuljokermegaways.HK) announced that the company has signed a placing agreement with Fuhui Securities Co., Ltd., and plans to sell up to 24 million placing shares to no less than six placees at a selling price of HK$4.03 per share.
This placement of shares accounts for 480 million shares of the company's existing share capitaljoyfuljokermegaways5.0% of the shares, and also accounted for 4.8% of the enlarged share capital of approximately 504 million shares after allotment and issuance. The placing price represented a discount of approximately 18.91% to the Stock Exchange's closing market price of HK$4.97 on April 22.
Shooter Holdings expects to receive the maximum total proceeds of HK$96.7 million and net proceeds of HK$94.7 million from the placing. The company plans to use 80% of the net amount, or approximately HK$75.8 million, for the existing decoration services business; the remaining 20%, or approximately HK$18.9 million, will be used as general working capital and support MetaSpaceXWeb3 business.