mastercoinfreespin2021| China Baoli Technology (00164.HK): Placement of up to 16.8 million shares, placing price of HK$1.030, and proceeds of approximately HK$17 million

News summary

China Baoli Technology (00164mastercoinfreespin2021.HK) announcedmastercoinfreespin2021, entered into an agreement with a placing agent on May 7 to place up to 16,803,334 shares at a price of HK$1.030 per share, which is approximately 16.94% discount to the market price and approximately 16.67% of the enlarged share capital. The expected net proceeds from the placing are approximately HK$16 million.

Newsletter text

[Baoli Technology plans to obtain HK$17 million through issuing shares through placing agents] On May 7, China Baoli Technology (00164.HK) announced that it has signed a placing agreement with the placing agent, and is expected to issue up to 16,803,334 new shares at a price of HK$1.030 per share.

The placing price represented a 16.94% discount to the Stock Exchange's closing price of HK$1.240 on May 7, and the newly issued shares accounted for approximately 16.67% of the company's issued share capital. The total proceeds are expected to be HK$17 million, with a net amount of approximately HK$16 million after deducting related expenses, and will be allotted and issued without shareholders 'approval.