Zhitong Financial App News, Zhitong International Holdings (08521) announced that on October 11, 2023, the company and the placement agent entered into a placement agreement. The company has conditionally agreed to use the placement agent to place up to 96 million shares of the placed shares to no less than six undertakers (they and their ultimate beneficial owners are all independent third parties) at a price of HK$0.185 per share.

The placed shares accounted for approximately 16.67% of the expanded issued share capital. The placement price of HK$0.185 per share was reduced by approximately 2.63% from the closing price of HK$0.190 per share on October 11.

The net proceeds from the placement will be approximately HK$17.4 million. It is anticipated that the net proceeds from the placement will be used to supplement the company's working capital to support its business operations.