Asia Pacific Financial Investment (08193) plans to raise a net share offering of approximately HK$53.9 million according to the “1 for 2” benchmark

According to Zhitong Finance App News, Asia Pacific Financial Investment (08193) issued an announcement. The board of directors proposed issuing 560 million shares at a subscription price of HK$0.1 per share (assuming that on or before the record date, the Company did not issue any further new shares or repurchase shares), and the maximum amount raised was about HK$56 million. The share offering is for eligible shareholders only, and no other shareholders (if any) may participate.

The subscription price is approximately 20.5% premium over the closing price of HK$0.083 per share as reported on the Stock Exchange on the last trading day.

If all subscriptions are obtained, it is estimated that the net proceeds (after deducting costs and expenses related to the share offering) will be approximately HK$53.9 million (assuming that the Company did not issue any further new shares or repurchase shares on or before the recorded date). The Company plans to use the net proceeds from the stock offering (i) to repay the acceptance notes (including interest accrued); (ii) to partially settle other accounts payable and payable to one director; and (iii) to use the Group's general working capital.