Changes in Hong Kong stocks | Leader Education (01449) rose by more than 15% to net allotment of about HK$35.58 million for digital and intelligent education and teaching business development, etc.

The Zhitong Finance App learned that Leader Education (01449) rose by more than 15%. As of press release, it had risen 15.79% to HK$0.55, with a turnover of HK$1,138 million.

According to the news, recently, Leader Education announced that the company plans to place up to 133 million shares to be placed, which is equivalent to about 20.00% of the company's current issued share capital at the date of this announcement; and about 16.67% of the company's issued share capital after allotting and issuing the expanded placement shares. The placement price of HK$0.265 per share was approximately 19.70% off from the closing price of HK$0.330 per share on July 24. Assuming that all placed shares are fully placed, the total proceeds and net proceeds from the placement are estimated to be approximately HK$35.33 million and HK$35.58 million, respectively.

According to the announcement, the company plans to use the net proceeds from the placement for the following purposes: approximately HK$25.94 million for the Group's business development in digital and intelligent education and teaching; the remaining HK$8.64 million for the Group's general working capital.