Zhengwei Group (02147) plans to discount approximately 20.93% of the allotment of shares with a maximum net raise of HK$6.33 million

According to the Zhitong Finance App, Zhengwei Group (02147) announced that on September 27, 2024, the company plans to place up to 192 million shares placed, which is equivalent to about 16.67% of the company's issued share capital after expanding the allotted and issued shares. The placement price was HK$0.034 per share, a discount of approximately 20.93% from the closing price of HK$0.043 per share on September 27.

Assuming that all of the placed shares are fully placed, the maximum amount of proceeds from the placement will be HK$6.53 million. The net proceeds from the placement are expected to be approximately HK$6.33 million. The Company intends to use the net proceeds from the placement as the Group's general working capital.