According to Zhitong Finance App News, Walnut Capital (00905) announced that at 4:00 p.m. on May 16, 2024 (Thursday) (that is, the final acceptance time), a total of 3 valid applications were received, involving a total of about 110 million shares offered, accounting for about 31.5% of the total number of shares offered under the stock offering.

At 4:00 p.m. on May 23, 2024 (Thursday) (the final time for placement agents to place unsubscribed shares), approximately 240 million unsubscribed shares were successfully placed to no less than 6 undertakers at a price of HK$0.162 (equivalent to the subscription price) per share in accordance with the placement. As a result, there is no net proceeds from the placement to be distributed to non-acting shareholders.

As all the conditions for the share offering and placement set out in the Articles of Association have been fulfilled, the offering and placement will become unconditional at 4 pm on May 23, 2024 (Thursday). According to the share offer acceptance results and placement results, the number of shares to be pre-allotted and issued is approximately 350 million shares, which is the highest number of shares offered for subscription.

As a result, the total proceeds raised from the stock offering were approximately HK$57 million, while the net proceeds from the share offering (after deducting expenses) were approximately HK$55 million. The company plans to use HK$15 million for general working capital, with the remaining balance of approximately HK$40 million for future investments.