Cocoon Holdings (HKG:0428) expects to raise net proceeds of about HK$4.7 million from the placement of up to 30.9 million new shares at HK$0.155 each, according to a Hong Kong bourse filing on Monday.
The placing price represents a 19.27% discount to Monday's closing price of HK$0.192.
The shares will account for 20% of the company's existing issued share capital and 16.67% of its enlarged share capital, assuming the placement is fully subscribed.
The company plans to use about HK$3.7 million of the net proceeds to invest in listed and unlisted securities, with the remaining HK$1 million allocated to general working capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments