China Intelligent Technology (00464) plans to issue 46 million subscription shares at a discount of approximately 18.52% to raise about HK$10 million

According to Zhitong Finance App, China Intelligent Technology (00464) announced that on April 14, 2025 (after the trading period on the Stock Exchange), the company (as issuer) signed six subscription agreements with six subscribers. According to this, the subscribers have agreed to subscribe and the company has already agreed to allocate and issue a total of 46 million subscribed shares at a subscription price of HK$0.22 per subscribed share. The subscription price is HK$0.22 per share, a discount of approximately 18.52% per share from the closing price of HK$0.27 per share as reported on the date of the subscription agreement;

Upon completion, the total proceeds from the subscription will be approximately HK$10.1 million and the net proceeds from the subscription (after deducting expenses for other subscription items) will be approximately HK$10 million. It is anticipated that the net proceeds from these subscription transactions will be used for loan repayment and general working capital.