Welife Technology to Raise Capital via Discounted Share Placing Under General Mandate

Welife Technology Limited ( (HK:1703) ) has shared an announcement.

Welife Technology Limited has entered into a placing agreement to issue up to 230 million new shares, representing 20% of its existing share capital, at HK$0.064 per share to at least six independent investors. The placing price reflects a discount to recent market prices and the shares will be issued under the company’s existing general mandate, avoiding the need for shareholder approval.

If fully placed, the enlarged share capital will rise to 1.38 billion shares, with the new shares accounting for about 16.67% of the post-issue total and carrying a maximum nominal value of roughly HK$2.3 million. The company plans to use the net proceeds for general working capital, with completion still subject to Stock Exchange approval for listing and dealing in the new shares, so investors are cautioned that the transaction may not proceed.

More about Welife Technology Limited

Welife Technology Limited, listed in Hong Kong, operates in the technology sector and is incorporated in the Cayman Islands with limited liability. The company is focused on delivering technology-driven services and solutions, and raises capital on the Hong Kong Stock Exchange to support its ongoing operations and working capital needs.

Average Trading Volume: 9,824,903

Technical Sentiment Signal: Sell

Current Market Cap: HK$83.95M

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