Zhitong Finance APP News, Cocoon Holdings (00428) announced that after the trading session on August 23, 2024, the company made a distribution agreement with a placement agent. According to this, the company has appointed a placement agent to facilitate the subscription of up to 14.1588 million shares of distribution shares by the underwriter at a price of 0.300 Hong Kong dollars per share. The distribution price is about 7.69% discount compared to the closing price of 0.325 Hong Kong dollars per share reported by the Exchange on August 23, 2024 (the date of the distribution agreement).

The net proceeds from the distribution will be approximately 4.2 million Hong Kong dollars. The net proceeds from the distribution are intended to be invested in listed and/or unlisted securities, with a total of approximately 3.7 million Hong Kong dollars, while the balance will be used for the group's general operating funds.