Many Idea Cloud Holdings Limited (HK:6696) has released an update.
Many Idea Cloud Holdings Limited has announced subscriptions for 160 million new shares at HK$0.25 per share, involving two independent parties, under the general mandate granted at the AGM, without shareholder approval. The shares represent about 11.76% of the enlarged issued share capital, assuming no changes in capital before completion. Shareholders and potential investors are cautioned as the deal is subject to conditions and may not proceed.
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