The 855 million proposed placement shares are priced at $0.0018 each.

Adventus Holdings aims to raise $1.54m through the proposed placement of up to 855 million shares for $0.0018 each to fund its Vietnam hotel operations.

The proposed placement price represents a 10% discount to the volume-weighted average price of 0.002 cents on 27 December 2024, before trading of the shares was halted.

Last 26 September 2024, Adventus entered into a hotel management agreement (HMA) with Intercontinental Hotels Group Company Limited, which will manage and operate the group's hotel in Danang.

Given the recent development concerning the HMA, the board decided that it is an opportune time to conduct a fund-raising exercise.

The net proceeds would also be for the repayment of bank obligations, working capital as well as property enhancement costs required by the Danang hotel.