Wisetong Financial News APP reported that Simplicity Holdings (08367) announced that on October 10, 2024, the company plans to issue up to approximately 0.23 billion new shares through placement agents to no less than six independent placing agents, accounting for approximately 16.67% of the enlarged share capital, with each share priced at HK$0.024, a discount of approximately 17.24% from the closing price of HK$0.029 per share on that day.

The announcement states that the net proceeds of approximately HK$5.4 million (assuming full allotment of the placing shares and after deducting all relevant expenses) from the placement will be used for the group's general working capital.