Gelonghui, May 3, 丨 WAC HOLDINGS (08619.HK) announced that on May 3, 2024, the company entered into a placement agreement with the placement agent. According to this, the placement agent has agreed to make every effort to place 150 million shares at the placement price of HK$0.14 per share to no less than six undertakers in accordance with the terms and conditions set forth in the placement agreement.

The placement price of HK$0.14 per share is a discount of approximately 9.68% from the closing price of HK$0.155 per share reported on the Stock Exchange on May 3, 2024 (the date of the placement agreement); the placed shares is equivalent to expanding the total number of issued shares by about 10.9% through all allotments and issuance of placed shares. The net proceeds to be collected by the Company (after deducting placement commissions and other fees and expenses) will be approximately HK$20 million.