GUAN CHAO HLDGS (01872) issued a net share placement of approximately HK$171 million.

GUAN CHAO HLDGS (01872) announced that on January 3, 2025 (Friday) at 4:00 pm (the deadline for the final offer of shares by the underwriters), a total of 26.63 million shares of unsubscribed shares have been successfully allocated to 23 independent underwriters at a price of HK$0.40 per share (equivalent to the subscription price) in accordance with the offering. Therefore, based on the compensation arrangement, there is no net profit available for distribution to non-participating shareholders. Based on the acceptance results of the offer and the allocation results of the compensation arrangement, a total of approximately 431.9 million shares will be issued and allotted (including unsubscribed shares) as part of the offer, representing 99.98% of the total number of shares offered for subscription under the offering. The total proceeds from the offer (including the compensation arrangement) amount to approximately HK$173 million, with a net proceeds from the offer (after deducting all related expenses) of approximately HK$171 million.