Zhixin Finance APP news, Polyfair Holdings (08532) announced that on August 23, 2024, the company plans to issue up to 0.16 billion shares, equivalent to approximately 16.67% of the expanded issued share capital through distribution and issuance of shares. The price for the shares is 0.04 Hong Kong dollars per share, with a premium of about 5.26% over the closing price of 0.038 Hong Kong dollars per share on August 23.

Upon completion and assuming all distributable shares are successfully sold by the distribution agent, the total expected proceeds from the distribution is estimated to be approximately 6.4 million Hong Kong dollars, with an estimated net proceeds of about 6.3 million Hong Kong dollars. The company plans to use the net proceeds raised from the distribution for general corporate operating funds.