On September 23, Gelunhui announced that on September 23, 2024, knt holdings (01025.HK) entered into a placing agreement with the placing agent. Under this agreement, the company conditionally agreed to place up to 168,486,000 shares at a placing price of HK$0.0315 per share to not less than six placees (who are independent third parties and their ultimate beneficial owners) through the placing agent. The placing shares will be issued and allotted under general mandate.

The maximum 168,486,000 placing shares under the placing arrangement represent approximately 16.67% of the enlarged issued share capital of the company after the placing arrangement, assuming no further changes to the company's issued share capital prior to completion. The total nominal value of the highest number of placing shares under the placing arrangement will be HK$1,684,860. The placing price is HK$0.0315, a 7.35% discount to the closing price of HK$0.034 per share of the shares reported by the Stock Exchange on the date of the placing agreement; The maximum net proceeds from the placing arrangement (after deducting the commission payable to the placing agent, professional fees, and other expenses and costs arising from the placing arrangement) will be approximately HK$4.87 million.