Zhitong Finance APP Newscasinotablegames, Suntech (09600) announced that on May 7, 2024, the company plans to issue a placing price of 0 per placing share through a placing agentcasinotablegamesA maximum of approximately 157.3 million placing shares were placed at HK$.28 to no less than six placees, accounting for approximately 16.67% of the enlarged share capital, and the placing price represented a discount of approximately 17.65% to the closing price of HK$0.34 per share on the day.
Assuming that up to approximately 157.3 million placing shares have been fully placed, a net raise of approximately HK$43.6 million is intended to be used to supplement the group's general working capital.