Summary by Futu AI
TAXIAO CLOUD HOLDINGS LIMITED (STOCK CODE: 6696) ANNOUNCED THAT IT WILL CONDUCT A PUBLIC OFFERING OF ONE SHARE FOR EACH TWO EXISTING SHARES AT AN OFFER PRICE OF HK$0.15 PER SHARE. This public offering is subject to approval by independent shareholders at the special general meeting and is subject to a purge exemption from the sub-dealer. A SPECIAL GENERAL MEETING WILL BE HELD ON 8 MARCH 2024 TO CONSIDER THE RELEVANT RESOLUTIONS. The Directors of the Company, Mr. Liu Jianhui, and Ms. Que Shuo, as the controlling shareholders, have made an irrevocable undertaking to subscribe for the public offering in proportion to their shareholding ratio. In addition, the Company has entered into a distribution agreement with the distribution agent, Metu Securities Limited, for the distribution of the unsubscribed shares. The net proceeds from the IPO are expected to be approximately HK$5.776 million and will be used primarily to purchase TikTok media resources and promote its distribution channels.