Summary by Futu AI
Cornerstone Technology Holdings Limited announced that the distribution agreement for the general authorization of the new shares has been completed on August 29, 2024. The company has issued and distributed a total of 47,820,000 new shares to a minimum of six underwriters, accounting for approximately 5.01% of the expanded issued share capital. The net proceeds from the distribution are approximately HKD 24,000,000, which will be used for the company's general operating capital. After the distribution, there have been changes in the company's equity structure, but none of the underwriters have become major shareholders of the company. The board of directors confirms that all underwriters and their ultimate beneficial owners are unrelated parties to the company. The details of this share distribution have been announced on the website of the Hong Kong Stock Exchange and the company's website.