Hong Kong ChaoShang Group Plans Share Expansion

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

Hong Kong ChaoShang Group Ltd. has announced the placement of 660 million new shares at a discounted price of HK$0.75 per share to raise funds for future expansion and to provide financial flexibility. This represents a significant addition to their existing shares, amounting to approximately 16.02% of the current issued capital. Additionally, the company has proposed an increase in authorized share capital from 5 billion to 8 billion shares, subject to shareholder approval.

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