Feitian Yundong (06610) plans to discount about 19.60% and place up to 361 million shares to raise about HK$71.62 million in net placement shares

According to the Zhitong Finance App, Feitian Yundong (06610) announced that on April 30, 2025, the company signed a placement agreement with the placement agent. The company has appointed the placement agent as its agent. According to the terms and conditions set out in the placement agreement, no less than six undertakers are encouraged to subscribe for up to 361 million shares at a price of HK$0.201 per placed share. Placed shares will be distributed and issued in accordance with a general mandate.

The 361 million placed shares are equivalent to approximately 16.66% of the company's issued share capital (excluding shares to be cancelled and treasury shares) after the issuance and expansion of the placed shares (assuming there is no change in the number of issued shares from the date of the placement agreement to the date of completion). HK$0.201 per share was discounted by approximately 19.60% of the shares at the closing price of HK$0.250 per share as reported on the Stock Exchange on the date of the placement agreement.

Assuming that all of the placed shares are fully placed, it is expected that the net proceeds from the placement transaction (after deducting placement commissions payable to the placement agent and other expenses arising from the placement) will be approximately HK$71.62 million.