Wisetong Financial News APP, Allurefem hldg (08305) announced that on November 20, 2024, the company plans to offer up to 0.21 billion shares to the placing agent, at a price of HK$0.055 per share, representing a discount of approximately 9.84% to the closing market price of HK$0.061 per share as reported on the Stock Exchange on the date of the placing agreement.

Upon completion and assuming all placing shares are successfully placed by the placing agent, the expected maximum total proceeds from the placing will be approximately HK$11.55 million, with a net fundraising of approximately HK$11.204 million, of which around HK$2 million will be used to repay bank loans and approximately HK$9.204 million will be used as general working capital for this group.