ALCO HOLDINGS (00328) completed the placement of 19.09 million shares, raising approximately HK$65.20 million.

ALCO HOLDINGS (00328) announced that all conditions stated in the placing agreement have been met and completed on November 20, 2024. The placing agents have successfully placed a total of 19.09 million shares at a placing price of HK$3.49 per share to no fewer than six placees, in accordance with the terms and conditions of the placing agreement. The total proceeds from the placing amount to approximately HK$66.6 million, with a net proceeds of approximately HK$65.2 million. The company intends to use the net proceeds from the placing to repay bank and other borrowings, settle external debts, and for general working capital of the group.