According to Zhitong Finance App News, Yingmei Holdings (02028) issued an announcement. The Company proposes to supply shares at a subscription price of HK$0.750 per share for every two shares held on the record date, and raise up to HK$322 million by issuing 429 million shares to eligible shareholders (assuming there is no change in the number of shares issued on or before the record date). The stock offering will only be presented to eligible shareholders and will not be presented to unqualified shareholders (if any).
The subscription price is HK$0.750 per share. The subscription price is approximately 52.68% off of HK$1.585 per share from the closing price of the shares reported on the Stock Exchange on the last trading day.
The maximum net proceeds are estimated to be approximately HK$321 million (assuming no change in the number of shares issued on or before the record date). After deducting expenses related to the offering, it is estimated that the net subscription price for each share offered will be approximately HK$0.748.
The Company intends to use the net proceeds for the development and operation of artificial intelligence server system integration services, of which (i) approximately 89.04% will be used for procurement of raw materials, components and components to be assembled into final products according to the specifications agreed upon between projects and customers; and (ii) approximately 10.96% will be used for other expenses, including approximately HK$14.38 million for employee salary and welfare expenses; approximately HK$9.88 million for sales and promotion expenses; approximately HK$7.44 million for administrative expenses; and approximately HK$3.46 million for R&D expenses.