Gelonghui, May 18 丨 Qiansheng Group Holdings (08475.HK) announced that the board of directors intends to submit share merger proposals to shareholders and propose a “10 in 1” merger of shares. Currently, shares are traded on the Stock Exchange in units of 5,000 shares per lot. After the share merger takes effect, each lot traded in the merged share transaction will still be 5,000 consolidated shares.
The company suggests that after the share merger takes effect, it is proposed“1 for 2”The maximum amount raised from issuing up to 88 million shares of offering shares at HK$0.57 per offering share (before deducting expenses) was approximately HK$50.2 million.
The net proceeds from the stock offering are estimated to be no more than HK$48.1 million. The Company intends to use the net proceeds from the stock offering (i) to repay loans due and payable over the next 12 months (including principal and related interest) and lease liabilities and lease-related expenses in the following order of priority; (ii) to be used as the Group's working capital for the next 12 months; and (iii) to settle part of the costs and fund transaction costs associated with the potential acquisition.