According to Zhitong Finance App News, Jiading International Group (08153) announced that the company proposes to issue approximately 125 million shares, at HK$0.45 per share, according to the “1 for 3” benchmark, a 21.05% discount on the closing price of HK$0.57 per share reported on the Stock Exchange on the last trading day.

The maximum net proceeds from the share offering after deducting all related expenses will be approximately HK$55.2 million, and approximately HK$28.6 million will be used to repay debts; approximately HK$14.6 million will be used as working capital for the Group's advertising business, including daily operating capital for the advertising business, including advance payments to suppliers (such as advertising places/time periods and videos/photo text production providers), and upgrade and operation training for the entire team with AI assistance tools, programmatic platforms and data analysis; and approximately HK$12 million will be used for general administrative funds and corporate expenses including employee remuneration, professional expenses, etc. Leasing and other operating expenses.

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