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RTNominal down0.092 -0.004 (-4.167%)

31/05/2021 14:00

New Focus Auto (00360) to issue shares to Daodu

[ET Net News Agency, 31 May 2021] New Focus Auto Tech Holdings Limited (00360) said it
has conditionally agreed to allot and issue a maximum of 11,252,732,911 subscription
shares at the subscription price of HK$0.059 per subscription share. The subscriber is
Daodu (Hong Kong) Holding Limited. The subscription shares represent approximately 62.44%
of the enlarged fully paid up issued share capital of the company upon completion.
The maximum gross proceeds to be raised from the subscription is HK$663,911,241.749. The
maximum net proceeds is estimated to be approximately HK$662 million, of which
approximately HK$480 million will be applied for enhancement of the company's
manufacturing capability through purchase of land use rights, construction of new
production plants and purchase of related production equipment in the PRC and the general
working capital of the new production plants; approximately HK$120 million will be applied
for repayment of the company's outstanding bank loans; and approximately HK$62 million
will be applied for general working capital purpose.
The board also proposes to increase the authorised share capital of the company from
HK$1 billion divided into 10 billion shares of HK$0.1 each to HK$2 billion divided into 20
billion shares of HK$0.1 each by the creation of an additional 10 billion new shares. (RC)

Remark: Real time quote last updated: 30/11/2021 14:05
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