Summary by Futu AI
RENDE RESOURCES HOLDINGS LIMITED (THE “COMPANY”) ANNOUNCED AFTER THE TRADING SESSION ON 17 JANUARY 2024 THAT IT HAS ENTERED INTO A DISTRIBUTION AGREEMENT WITH HENG YU SECURITIES LIMITED (THE “ASSIGNMENT AGENTS”) TO SELL A MAXIMUM OF 37,627,200 SHARES TO NO LESS THAN SIX INDEPENDENT PERSONS THROUGH A DISTRIBUTION AGENT AT A PRICE OF HK$0.201 PER SHARE Three party bearers. The share price was approximately 16.6% to 19.9% compared to the closing price of the company's stock on the exchange. Upon completion of the divestiture, the Company's capital increase is expected to be approximately HK$7,600,000, net of related costs of approximately HK$7,400,000. The Company plans to use approximately 89% of the proceeds as working capital for the engineering and leasing business, with the remaining approximately...Show More