CN SCI-TECH IND (00339) intends to offer a discount of approximately 10.53% for the sale of up to 57 million shares, with a net proceeds of approximately 9.54 million Hong Kong dollars.

CN SCI-TECH IND (00339) issued a announcement on February 28, 2025, stating that the company has entered into a placement agreement with a placement agent. The placement agent has conditionally agreed (as agent of the company) to use its best efforts to solicit no less than 6 placees (who must be independent third parties) to subscribe for up to 57 million shares at a placement price of HK$0.17 per share. The 57 million shares to be issued and distributed under the placement represent approximately 16.52% of the enlarged issued share capital of the company (assuming no changes to the issued share capital from the date of the announcement until the completion of the placement). The placement price of HK$0.17 per share represents a discount of approximately 10.53% to the closing price of HK$0.190 per share as reported on the Stock Exchange of Hong Kong on February 28, 2025 (the date of the placement agreement). If all 57 million shares are fully subscribed, the net proceeds from the placement (after deducting expenses) are estimated to be approximately HK$9.54 million, equivalent to a net issue price of approximately HK$0.167 per share. The company plans to use approximately HK$4.77 million of the net proceeds for future investments and business development, and approximately HK$4.77 million for general working capital purposes.