FAR International Holdings Group Company Limited (2516) Announces Completion of New Share Placing

Bulletin Express11-20

FAR International Holdings Group Company Limited (2516) announced the completion of its placing of 156,000,000 new shares under the General Mandate. The placing price was set at HK$0.455 per share, and the aggregate new shares represent approximately 16.67% of the company’s enlarged share capital following completion.

The placing generated net proceeds of about HK$69.62 million. According to the announcement, at least HK$60.00 million of these proceeds is allocated to bolster existing logistics operations, including potential warehouse expansions. The remainder is earmarked for general working capital.

Upon completion, the total number of issued shares increased from 780,000,000 to 936,000,000. The announcement confirms that no placee became a substantial shareholder and that the largest shareholder, who remains Mr. Wang Quan (together with his spouse), holds a 28.12% stake post-placement.

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