Guoen Holdings (08121) plans to discount 24.21% of shares on the “1 to 4” basis to raise a maximum net of HK$40.4 million

Zhitong Finance App News, Guoen Holdings (08121) announced that the company proposes to issue up to about 120 million shares according to the “1 for 4” benchmark, at HK$0.36 per share, a 24.21% discount on the closing price of HK$0.475 per share reported on the Stock Exchange on the last trading day.

The maximum net raise from the share offering is approximately HK$40.4 million. The company intends to use the net proceeds from the proposed offering for the following purposes: (i) approximately HK$8.3 million will be used to repay shareholders' loans; (ii) approximately HK$12 million will be used to establish an artificial intelligence (AI) department to develop AI functions and apply to the Group's media and marketing business; (iii) approximately HK$12 million will be used for any future cooperation/investment opportunities; and (iv) approximately HK$8.1 million will be used as the Group's future working capital.