Tianren Group (01429) plans to discount about 15.83% and place up to 320 million shares to raise about HK$31.7 million

According to Zhitong Finance App, Tianren Group (01429) announced that on August 14, 2026, the company plans to place up to 320 million shares to be placed, which is equivalent to 20% 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, which has been expanded through allotment and issuance of placed shares. The placement price of HK$0.101 per share was approximately 15.83% off from the closing price of HK$0.120 per share on August 14. Assuming that all 320 million shares of the placement are successfully placed, the total proceeds from the placement will be approximately HK$32.32 million, while the net proceeds from the placement are estimated to be approximately HK$31.7 million. The directors intend to use 50% of the net proceeds from the placement to settle trade accounts payable and other accounts payable. The remaining 50% will be used to cover staff costs.