STERLING GP (01825) completed the placement of 57.6 million shares, raising approximately HK$39.5 million.

STERLING GP (01825) announced that all conditions stipulated in the placement agreement have been met and the placement was completed on January 8, 2025. Under the terms of the placement agreement, the placement agent has placed a total of 57.6 million shares at a price of HK$0.070 per share to no fewer than six subscribers, representing approximately 16.7% of the enlarged issued share capital of the company after completion of the placement. After deducting related expenses, the net proceeds from the placement amount to approximately HK$3.95 million. The company plans to use the entire net proceeds in the same manner as disclosed in the earlier announcement, specifically for general working capital purposes.