CHINA WOOD INT(01822) has completed the issuance of a total of 68.49 million shares of placement shares.

CHINA WOOD INT(01822) announced that all conditions for the allotment have been met, and the completion was implemented on September 20, 2024. A total of 68.49 million shares of allotment shares (equivalent to approximately 16.66% of the enlarged issued share capital of the company after the completion) have been successfully allotted to no less than six subscribers at the allotment price of HK$0.226 per share in accordance with the terms of the allotment agreement. After deducting related expenses (including but not limited to allotment commission, legal expenses, and payments), the net proceeds of the allotment amount to approximately HK$152 million, equivalent to a net allotment price of approximately HK$0.222 per share. The company plans to use the net proceeds, as disclosed in the earlier announcement, with approximately HK$80 million for debt repayment and approximately HK$72 million for general operating capital of the group.