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ITC Properties Group (00199.HK) Placing at 12.09% Discount to Raise HKD55.31 million
ITC Properties Group (00199.HK) announced that it will place up to 69.1396 million new shares at HKD0.8 per share, representing approximately 6.78% of the companys total issued sh...
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ITC Properties Group (00199.HK) Placing at 12.09% Discount to Raise HKD55.31 million
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ITC Properties Group (00199.HK)  +0.100 (+4.082%)   announced that it will place up to 69.1396 million new shares at HKD0.8 per share, representing approximately 6.78% of the companys total issued shares. Upon completion of the placing, the new shares will account for approximately 6.35% of the enlarged issued share capital. The placing price represents a discount of approximately 12.09% to the closing price of HKD0.91 on the previous trading day (21st). Gross proceeds are expected to be HKD55.31 million, with net proceeds of approximately HKD52.87 million.

Of the net proceeds, approximately 70% will be allocated to investment-related initiatives under the groups existing strategic framework, focusing on opportunities and projects related to AI, computing infrastructure, Web3-related technology applications and associated industry resources. The remaining approximately 30% will be used to expand and strengthen strategic cooperation arrangements aligned with the groups ongoing business development and strategic plans, and to support business development and market expansion in key overseas markets. (ec/w)(HK stocks quote is delayed for at least 15 mins.)

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