[ET Net News Agency, 12 April 2021] Tongda Hong Tai Holdings Limited (02363) said it
has agreed to place up to 37.8 million placing shares at the placing price of HK$0.31 per
placing share.
37.8 million placing shares represent approximately 16.66% of the issued share capital
of the company as enlarged. The placing price represents a discount of approximately
10.14% to the closing price of HK$0.345 per share on 9 April 2021.
The gross proceeds will be approximately HK$11.7 million. The net proceeds are estimated
to be approximately HK$11 million. The company intends to apply the net proceeds for
repayment of outstanding bank loans. (RC)