[ET Net News Agency, 26 April 2021] SunCorp Technologies Limited (01063) said it has
agreed to place up to 580 million placing shares at a price of HK$0.1 per placing share.
The gross proceeds and the net proceeds will be HK$58 million and approximately HK$56.2
million, respectively. The company intends to apply the net proceeds as follows: (i)
approximately HK$18.0 million for the web application development of the virtual asset
trading platform; (ii) approximately HK$11.0 million for the acquisition of equipment and
the related installation and technical support services fee; (iii) approximately HK$8.1
million for the Cloud infrastructure and professional network management services fee;
(iv) approximately HK$8.4 million for the staff costs and consultancy fees for operational
and technical staff and external consultants; (v) approximately HK$2.4 million for the
digital and data securities services fee; and (vi) approximately HK$8.3 million for the
working capital in operating the virtual asset trading platform, including but not limited
to purchasing digital assets inventories and purchasing insurance. (RC)