According to the Zhitong Finance App, Roxy International Holdings (01529) announced that on June 15, 2022, the company signed a placement agreement with the placement agent to place up to 80 million shares of placement to no less than six underwriters through the placement agent, accounting for about 8.30% of the expanded share capital. The placement price is HK$0.141 per placed share, which is approximately 18.5% off the closing price of HK$0.173 per share reported on the Stock Exchange on the last trading day.

Assuming that all of the placed shares are placed, a net raise of approximately HK$1.05 million is expected to be used to develop the traditional Chinese medicine business.