According to Zhitong Finance App News, Minfu International (08511) announced that on August 13, 2024 (after the trading session on the Stock Exchange), the company entered into a placement agreement with the placement agent. According to this, the company conditionally agreed to use the placement agent to place up to 0.144 billion shares to no less than six undertakers. The placement price was HK$0.024 per share. The placement price was HK$0.024 per share, compared to the closing price of HK$0.028 per share reported on the Stock Exchange on the date of the placement agreement.

According to the announcement, the maximum net proceeds from the placement are estimated to be around HK$3.2 million, which is equivalent to the net issue price of approximately HK$0.022 per placed share. The maximum net proceeds from the placement are intended to supplement the company's general working capital.