Summary by Futu AI
Kingkey Fin Int (Holdings) Limited ("Kingkey Fin Int") announced on September 3, 2024 that the company has signed a placement agreement with placement agent Oriental Financial Services Limited to sell a maximum of 183,119,113 new shares to no less than six independent third parties at a placement price of HK$0.41 per share. The placement shares represent 20% of the total number of issued shares of the company and approximately 16.67% of the enlarged issued share capital. If the placement is successful, the expected total amount of proceeds will be HK$75,080,000, and after deducting related expenses, the net amount will be approximately HK$74,120,000. The company plans to invest approximately 20% of the net proceeds in green energy projects and artificial intelligence projects, and the remaining approximately 60% will be used to supplement working capital. The placement shares will be issued based on the general mandate obtained at the annual general meeting of shareholders and do not require further approval from shareholders. The placement is expected to be completed within four business days after the conditions are met.