WANKA ONLINE (01762) plans to offer up to 300 million shares, raising approximately HK$52.83 million net.

WANKA ONLINE (01762) announced that on February 24, 2025, the company intends to issue up to 300 million shares, representing approximately 16.43% of the enlarged issued share capital after the issuance and distribution of all the newly issued shares. The issue price for each new share is HK$0.177. The total amount raised from the issuance is expected to be up to HK$53.1 million, with a net amount of around HK$52.83 million. The company plans to allocate 60% of the net proceeds to research and development of various artificial intelligence applications, 30% to overseas business development, and 10% for operational capital within the group.