[Caihua News] Youchuan Group (01323-HK) announced that it will place a maximum of 250 million shares, accounting for about 9.06% of the expanded share capital. The placement price is 0.46 yuan per share, a discount of about 11.88% from yesterday's closing price of 0.52 yuan.

The net proceeds this time were approximately $111.4 million. The net proceeds from the placement are intended to be used to repay the company's convertible bonds and fund the potential acquisition of the remaining 80% of Alpha Youth Limited's issued share capital.