Gelonghui, April 8, 丨 Longhui International Holdings (01007.HK) announced that on April 8, 2024, the company entered into a placement agreement with the placement agent. The company plans to place up to 63.22 million placements at HK$0.48 per share (about 37.7% off the closing price of HK$0.77 per share on the date of the placement agreement), accounting for about 60.00% of the existing issued share capital; and expand the issued share capital by approximately 37.50% through allotment.

The total proceeds from the placement will be HK$30.3 million, and the net proceeds are estimated to be approximately HK$28.8 million. The Company intends to use HK$25.9 million of the net proceeds from the placement to repay the Group's debts and interest expenses, and HK$2.9 million as the Group's general working capital.