New Yaolai (00970) plans to discount approximately 17.96% by issuing 93.803 million shares to raise about HK$36.8 million

According to the Zhitong Finance App, Xin Yaolai (00970) announced that on April 15, 2025, the company plans to distribute and issue a total of 93.803 million shares to these subscribers (Mr. Li Zhancheng and Mr. Chen Jianwu), which is equivalent to about 16.67% of the total number of issued shares that have been distributed and expanded after completion of the issuance of subscription shares. The subscription price was HK$0.402 per share, a discount of approximately 17.96% from the closing price of HK$0.490 per share on April 15.

The total proceeds from these subscription transactions will total approximately HK$37.7 million. The total net proceeds from these subscription transactions will be approximately HK$36.8 million. The Company intends to use approximately HK$10 million of the net proceeds from such subscription matters to cover litigation expenses; approximately HK$16.8 million as potential investments when opportunities arise; and approximately HK$10 million as the Group's general working capital.