According to the Zhitong Finance App, MINDTELL TECH (08611) announced that on June 28, 2023, the company plans to place a maximum of 78 million shares, accounting for about 16.67% of the expanded company's issued share capital. The placement price of HK$0.117 per share was about 19.31% off the closing price of HK$0.145 per share on June 28.

Assuming that a maximum of 78 million shares are sold, it is estimated that the total proceeds and net proceeds will be approximately HK$9.13 million and HK$8.92 million respectively. The company intends to use the net proceeds from the placement as the group's general working capital.