MOG Holdings Limited (HK:1942) has released an update.
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MOG Digitech Holdings Limited has announced a strategic reallocation of their unutilised net proceeds from the recent share placement, channeling approximately HK$32.91 million into their money lending business to capitalize on high-interest earning opportunities. This move diverges from previous plans to repay debt and invest in payment-related business opportunities, reflecting the company’s focus on expanding its credit operations within Hong Kong. The directors assure that this adjustment aligns with the company’s best interests and will not negatively impact existing business operations.
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