Gelonghui May 22 丨 China United Development Holdings (00264bingorama.HK) announced that on May 22, 2024, the placing agent entered into a placing agreement with the Company, pursuant to which the placing agent has conditionally agreed to act as the Company's placing agent to procure on a best efforts basis not less than six placees (who and their ultimate beneficial owners are independent third parties) to subscribe for up to 30 million placing shares at a placing price of HK$0.85 per placing share.
The placing price per placing share is HK$0.85, which represents a discount of approximately 19.05% to the closing price of HK$1.05 per share of the shares quoted on the Stock Exchange on the date of the placing agreementbingorama; the maximum number of shares placed under the Placing is equivalent to approximately 7.27% of the Company's existing issued share capital of 412,704,000 shares as at May 22; upon the completion of the Placing, it is expected that the maximum total proceeds and net proceeds from the Placing (after deducting the placing commissions, professional fees and all related expenses borne by the Company) will be approximately HK$25.5 million and HK$24.7 million respectively. On this basis, the net issue price will be approximately HK$0.82 per placing share.