Summary by Futu AI
Zhengwei Group (02147.HK) announced on September 27, 2024, that it will issue 192,000,000 new shares at a price of HK$0.034 per share, equivalent to 20% of the enlarged issued share capital. The new shares to be issued this time will be divided into two parts, with the first part accounting for 16.67% of the total issuance and the second part accounting for 20.93%. The issue price represents a discount of approximately 99.48% compared to the closing price of the company's stock on May 31, 2024, at HK$6.53, and a discount of about 99.46% compared to the average closing price of HK$6.33 from May 14 to May 23, 2024. The group expects that the issuance will be completed on October 31, 2024. After the share issuance, Shengyao Investment Group Limited, Prosperous Season Group Limited, and Trendy Peak International Limited will hold 100%, 100%, and 100% of the company's shares, respectively, while Best Talent Venture Holdings Limited will hold 57.14% of the company's shares. Zhengwei Group stated that the purpose of the new share issuance is to expand the company's capital base and strengthen its financial position.
