China Tianrui (01252) plans to issue 145 million shares for private placement, raising net proceeds of HKD 42.2 million.

CHINA TIANRUI (01252) announced that on December 24, 2024, Seller Yukuo Limited and the Company entered into an agreement with the placement agent, whereby the Seller conditionally agreed to appoint the placement agent (excluding all other persons) and the placement agent conditionally agreed to use its best efforts to facilitate the independent underwriter (or itself as principal) to purchase up to 145 million shares of placement shares at a price of HK$0.33 per share. Under the agreement, the Seller conditionally agreed to subscribe, and the Company also conditionally agreed to issue and allot to the Seller at the subscription price (equivalent to the placement price) an equal number of subscription shares to the placement shares. The placement price of HK$0.33 per share represents a discount of approximately 4.35% compared to the closing market price of HK$0.35 per share on the Stock Exchange on December 24, 2024. After deducting related costs, professional fees and actual expenses paid, the net proceeds from the subscription are estimated to be approximately HK$47 million. The net proceeds from the subscription are intended to be used as follows: approximately HK$42.2 million (approximately 89.79% of the net proceeds from the subscription) to repay part of the Company's debt; and approximately HK$4.8 million (approximately 10.21% of the net proceeds from the subscription) as general working capital for the Company.