Grand Talents (08516) plans to allocate up to 27.4 million shares for a net raise of approximately HK$3.1 million.

GRAND TALENTS (08516) announced that on November 15, 2024, after the trading hours of the Stock Exchange, the company entered into a placing agreement with a placing agent. Under this agreement, the company conditionally agreed to place up to 27.404 million shares at a placing price of HK$0.120 per share to not less than six placees at the best efforts basis. The placees and their ultimate beneficiaries are independent third parties. The placing price of HK$0.120 per share is equivalent to the closing price of HK$0.120 per share on the last trading day on the Stock Exchange. Assuming the maximum number of shares are placed according to the placing agreement, the total amount raised from the placing exercise will be HK$3.3 million, with a net amount of approximately HK$3.1 million (after deduction of placing commissions and other expenses). The directors propose to use the net proceeds from the placing exercise for general working capital of the group.