Hong Kong ChaoShang Group Announces Share Placement

Hong Kong ChaoShang Group Ltd. (HK:2322) has released an update.

Hong Kong ChaoShang Group Ltd. has conditionally agreed to issue 630 million new shares at a price of HK$0.78 each, a notable discount from recent closing prices, in a move to raise approximately HK$476.4 million net proceeds for expanding their financial services and potential investments. The placement represents around 15.29% of its existing issued share capital, and the success of this effort depends on specific conditions outlined in the Placing Agreement.

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