CH SUPPLY CHAIN (03708) plans to issue approximately 20% discount to subscribe for 1.1188 billion shares, raising net proceeds of HK $13.42 million.

CH SUPPLY CHAIN (03708) announced that on January 6, 2025, Subscriber I (Qingdaozongheng Holdings Group Limited (Qingdaozongheng)) and Subscriber II (Mr. Li Guoxun, a Hong Kong merchant) entered into a subscription agreement with the company. According to the general authorization, Subscriber I and Subscriber II have conditionally agreed to subscribe and the company has conditionally agreed to issue 670.6 million subscription shares and 448.2 million subscription shares to Subscriber I and Subscriber II respectively, at a subscription price of HK$0.012 per share, with a total consideration of HK$13.4256 million. The subscription shares represent approximately 20% of the company's issued share capital as of the date of this announcement; and approximately 16.67% of the enlarged issued share capital of the company after the issuance of 1.1188 billion subscription shares. The subscription price of HK$0.012 per share represents a discount of approximately 20% compared to the closing price of HK$0.015 per share reported on the Stock Exchange on January 6, 2025. The total proceeds raised from the subscription will be approximately HK$13.4256 million. After considering the estimated expenses related to the subscription, the net proceeds from the subscription are estimated to be approximately HK$13.42 million, or a net price of HK$0.012 per share. The group intends to use the approximately HK$13.42 million for general working capital and/or to invest in potential new projects identified by the group in the future.