CHINA IN-TECH (00464) plans to offer a discount of approximately 19.64% for the placement of up to 46 million shares, raising approximately HK$100 million.

CHINA IN-TECH (00464) announces that on January 20, 2025 (after trading hours on the Stock Exchange), the company (as the issuer) entered into a placing agreement with the joint placing agents. According to the agreement, the joint placing agents have conditionally agreed to place up to 46 million shares at a placing price of HK$0.225 per share based on their best efforts and will receive a placing commission of 3% of the total placing price for the shares placed. The placing price of HK$0.225 per share represents a discount of approximately 19.64% compared to the closing price of HK$0.280 per share on the date of the placing agreement. The total amount raised from the placing will be HK$10.35 million. The net proceeds from the placing (after deducting other expenses related to the placing) will be approximately HK$10 million. The company plans to use the net proceeds for general working capital of the group.