China Tiantian Chemical (00362) announcedbingoplusphOn May 20, 2024, the company plans to place up to 300 million placing shares to no less than six placees through a placing agent, accounting for approximately 22% of the enlarged share capitalbingoplusph.2%。The placing price was HK$0.1 per placing share, a discount of approximately 2.0% to the closing price of HK$0.102 per share on the day.
Assuming that all placing shares are fully placed, approximately HK$29.4 million is net raised, HK$24 million will be used to repay the Group's debt and interest expenses, and HK$5.4 million will be used to provide the Group's general working capital.
