Milan Station (01150.HK) announced on July 16th that the conditions for the placement have been met. The placement was completed on July 16th, 2024, and the placement agent has successfully placed a total of 0.176 billion shares of placement shares to no fewer than six underwriters at a placement price of HKD 0.08 per share.
The net proceeds from the placement are approximately HKD 13.7 million. The net proceeds raised from the placement of each share of placement shares will be approximately HKD 0.078. The company intends to use the net proceeds from the placement for general working capital purposes.