Wenye Group Proposes Major Share Issuance

Wenye Group Holdings Limited (HK:1802) has released an update.

Wenye Group Holdings Limited has announced a conditional agreement to issue 237.6 million new shares, representing approximately 28.6% of its enlarged issued share capital, for a total consideration of HK$13.068 million. The proceeds are intended primarily for debt repayment and interest expenses, with a minor portion allocated for general working capital. The issuance is subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM) and the listing of the new shares on the Stock Exchange.

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