Sheung Moon Holdings (08523) announced that they will allocate a maximum of 80 million shares according to the general authorization for public offerings. Due to market conditions, the company terminated the agreement with the placement agent on July 17, 2024, and both sides agreed to terminate the placement agreement immediately (after revision and supplement by the supplementary agreement dated June 27, 2024).
Changman Holdings (08523) announced that they will allocate a maximum of 80 million shares according to the general authorization for public offerings. Due to market conditions, the company terminated the agreement with the placement agent on July 17, 2024, and both sides agreed to terminate the placement agreement immediately (after revision and supplement by the supplementary agreement dated June 27, 2024).
The board of directors believes that the termination will not have any significant adverse effects on the group's existing operations, operations, and financial conditions. After the resumption of trading of the company's shares on the Stock Exchange of Hong Kong, the company will seek opportunities to raise capital by issuing shares, including but not limited to placement activities, to expand its shareholder base and raise funds for its operations and future business development. The company will notify the market in accordance with the rules of the GEM listing in a timely manner through public announcements.