On June 18, Glon Hui announced that Palinda Group Holdings (08179.HK) signed a subscription agreement with independent third-party subscribers on June 18, 2024. Under this agreement, the subscribers conditionally agreed to subscribe while the company conditionally agreed to issue and distribute a total of 236,832,000 subscription shares at a subscription price of HKD 0.10 per share. The subscription shares can only be confirmed after the listing committee approves the listing and trading of the subscription shares of each subscriber.

The subscription price represents a discount of about 11.00% to the closing market price of HKD 0.111 per share on the Stock Exchange of Hong Kong on June 18, 2024 (i.e., the date of the subscription agreement); the subscription shares represent approximately 19.80% of the existing issued share capital of the company as of the date of this announcement. The net proceeds from the offering, after deducting all related expenses, are approximately HKD 23.62 million, which will be used for general corporate purposes and to repay borrowings.