Kingkey Fin Int (01468) announced that in order to support the group's future expansion and growth, the board of directors recommends increasing the authorized share capital from HKD 100 million (divided into 10 billion shares) to HKD 1 billion (divided into 100 billion shares) by adding 90 billion new shares. The increase in authorized share capital is subject to approval by ordinary resolution of shareholders at a special general meeting.

On June 17, 2024, the company plans to issue a maximum of 1 billion placing shares through a placing agent to no more than 6 placees, accounting for approximately 9.8% of the enlarged issued share capital. The price of the placing shares is HKD 0.25 per share, representing a premium of approximately 29.5% over the closing price of HKD 0.193 per share on that day.

Assuming that the placing agent successfully places all the placing shares, the net proceeds will be approximately HKD 247.3 million, of which approximately 22.6% will be used to repay debts, approximately 20.2% will be used to develop the group's green resource investment business, and approximately 57.2% will be used to supplement the company's operating capital.