According to the Zhitong Finance App, Haina Starry Sky Technology (08297) announced that on May 29, 2024, the company plans to place up to 176 million shares, equivalent to 14.5% of the company's issued share capital through the increase in the maximum number of shares to be issued and distributed. The placement price of HK$0.1 per share represents a 6.4% premium over the closing price of HK$0.094 per share on May 29.

It is anticipated that the total proceeds from the placement and the maximum net proceeds will be approximately HK$17.6 million and HK$17.3 million respectively. The company plans to use the net proceeds from the placement of approximately HK$6.9 million for the development of the health business; HK$5.2 million for the operation and business upgrading of the underwear product division; and HK$5.2 million for general working capital.