Grainfield Intelligence September 15th | elife hldgs (0223.HK) announced that it plans to allocate 0.226 billion new shares to ch innovation (1217.HK), accounting for 16.66% of the enlarged share capital; the subscription price is HK$0.123 per share, a 12.14% discount from last Friday's closing price of HK$0.14, raising HK$27.798 million. The company stated that it will use the net proceeds from the subscription of approximately HK$27.7 million to supplement the group's operating capital and develop the group's business. After completion, ch innovation will hold approximately 16.66% of the total number of shares issued by elife hldgs and will become a major shareholder.