KNT HOLDINGS (01025) plans to discount 7.35%, with a maximum placement of 168 million shares, raising approximately HK$48.7 million net.

KNT HOLDINGS (01025) announced that on September 23, 2024 (after trading hours), the company entered into a placement agreement with the placing agent, whereby the company conditionally agreed to place up to 168 million shares at a price of HK$0.0315 per share to not less than six placees (who are independent third parties and their ultimate beneficial owners). The placement shares will be issued and allotted under the general mandate. The placement price represents a discount of 7.35% to the closing price of HK$0.034 per share of the company's shares as reported on the Stock Exchange on the date of the placement agreement. The maximum net proceeds from the placement (after deducting the commission payable to the placing agent, professional fees, and other expenses related to the placement) are expected to be approximately HK$4.87 million.