Fourace Industries Redirects IPO Funds

Fourace Industries Group Holdings Limited (HK:1455) has released an update.

Fourace Industries Group Holdings Limited has announced a reallocation of the unutilized net proceeds from their Global Offering, originally amounting to HK$66.2 million. As of March 31, 2024, the company had spent approximately HK$27.5 million and is now redirecting the remaining HK$38.7 million towards introducing new branded products and enhancing global sales and marketing efforts, with an expected completion timeline by June 2026.

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