According to the report from the Zhitong Finance APP, China Info Tech (08178) announced on November 7, 2024, that the company intends to issue 12.353 million subscription shares to A M K M INVESTMENTS L.L.C at a subscription price of HKD 6.31 per share, representing a premium of approximately 40.22% over the closing price of HKD 4.50 per share on the last trading day on the Stock Exchange.

It is reported that the subscriber is mainly engaged in investment activities in a wide range of industries, including technology, business services, real estate, and dining. The ultimate beneficial owner of the subscriber is Shaikh Ahmed Bin Manea Bin Khalifa Saeed Al-Maktoum. Shaikh Ahmed Bin Manea Bin Khalifa Al-Maktoum is a successful entrepreneur and a member of the ruling family of Dubai. He is the Vice Chairman of MKM Holdings, as well as the owner and founder of the subscriber.

Assuming all subscription shares are fully subscribed, the net proceeds will be approximately HKD 77.75 million. 70% will be used as general operating funds of the United Arab Emirates, including but not limited to setting up offices and business development expenses in the United Arab Emirates; and 30% will be used as general operating funds in Hong Kong, including but not limited to office rent, salaries, and administrative expenses in Hong Kong.