Glonghui September 27丨Mandi Technology Co., Ltd. (01400.HK) announced that on September 27, 2023, the company and the placement agent entered into a placement agreement. The company intends to place HK$0.950 per share (the placement price is about 12.84% off from the closing price of HK$1.090 per share on September 27)Place up to 100 million shares for placement, accounting for about 2.82% of the current issued share capital; and expand the issued share capital by allocating approximately 2.74%.

The net proceeds from the placement are expected to be approximately HK$94.4 million. The company intends to allocate the net proceeds from the placement to the general working capital of the Group.

The directors believed that the placement provided a good opportunity to raise further capital for the company, thereby increasing the liquidity of shares and enhancing the financial position of the Group.