Yeahka to Issue 19.2 Million Shares Under Placement, Top-Up Deal

MT Newswires Live01-07 12:24

Yeahka (HKG:9923) plans to issue 19,150,000 shares at HK$10.10 apiece under a placement agreement, according to a Tuesday filing with the Hong Kong Exchange.

CLSA is the placement agent for the offering.

The placement shares comprise 4.14% of the issued share capital of the one-stop payment services company as enlarged by the subscription., the filing said.

Net proceeds from the subscription, set at HK$189.2 million, will be used to expand its business across Asia, fund research and development for artificial intelligence and proprietary software, and for working capital.

Creative Brocade International, a shareholder in Yeahka, will then sell 19,150,000 shares to Yeahka at HK$10.10 apiece under a top-up agreement, the filing said.

Creative Brocade's shareholding will reduce to 34.67% from 36.17% following the completion of the subscription.

Shares fell 9% during Tuesday's midday trading.

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