Summary by Futu AI
WISDOMCOME GROUP HOLDINGS ANNOUNCED A SHARE OFFERING TO STRENGTHEN THE COMPANY'S FINANCIAL POSITION AND PROVIDE FUNDING FOR ITS LENDING AND RETAIL BUSINESSES. The offering will be made on the basis of three shares of stock being issued for each holding of one share of existing share at a subscription price of HK$0.045 per share. The shares are expected to be traded from January 3 to January 10, 2024. Mr. Chen Ende, Chairman and Executive Director of the Company, said that this move will help the Group seize market opportunities and bring returns to shareholders. The net proceeds from the dividend are estimated to be approximately HK$64.5 million and will be used to expand lending, purchase healthcare and pet products to expand retail operations, pay outstanding bills and advisory fees, and as general working capital. Upon completion of the offering, the Company's issued shares will increase to 2,074,576,124 shares.