Gelonghui, January 31, 丨 China Bank Technology (00515.HK) announced that on January 31, 2024, the company entered into a subscription agreement with the subscriber. According to this, the company has agreed to allocate and issue a total of 133,883,000 subscription shares. The subscription price is HK$0.10 per subscription share.

The subscription price of HK$0.10 per share is approximately 42.86% premium over the closing price of HK$0.070 per share reported on the Stock Exchange on January 31, 2024 (the date of the subscription agreement); 133,883,000 subscription shares are equivalent to approximately 16.67% of the company's issued share capital expanded by issuing 133,883,000 subscription shares. The total and net proceeds from the subscription are expected to be approximately HK$13.4 million and HK$13.2 million respectively. The company plans to use approximately HK$11.2 million of the net proceeds from the subscription to repay the Group's maturing debts and liabilities, and HK$2 million for the Group's working capital (such as salaries, rent payments, professional expenses and office expenses).