According to the financial app, Astrum (08333) announced that after the trading session on October 7, 2024, the company entered into a placement agreement with a placement agent, whereby the company has appointed the placement agent to place up to 10 million shares at a price of HK$0.26 per share to not less than six independent placees based on best efforts basis and subject to the fulfillment of preconditions related to the placement matters. The placing price of HK$0.26 per share represents a discount of 20.00% to the closing price of HK$0.325 per share of the shares as quoted on the Stock Exchange on the date of the placement agreement.

Assuming full subscription for the placement shares, the total and net proceeds of the placement matters would be approximately HK$2.6 million and about HK$2.5 million respectively. The company intends to use all net proceeds for general working capital of the group.