Xinhuo Technology raises HK$275.6 million from 5 subscribers

According to Foresight News, Hong Kong-listed company Xinhuo Technology announced that it would issue a total of 166 million shares to 5 subscribers, equivalent to 22.08% of the company's expanded share capital, and the subscription price per share was HK$1.66, a discount of 29.66% from the closing price of HK$2.36 on June 27, and the total amount of proceeds was HK$275.6 million.


Major shareholder Avenir Investment (Subscriber I) rose from 29.08% to 29.84%; LINEX Holdings Ltd. (Subscriber II) will subscribe for HK$124 million, becoming the largest subscriber in this round, with a shareholding ratio of 10%. ; TX Capital Holdings Ltd. (Subscriber III) will hold 1% of the shares; Night Wood (Subscriber IV), wholly owned by Executive Director Zhang, will hold 3.43% of the shares; Rosen Holdings Ltd. (Subscriber V) will hold 0.48% of the shares.

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