Shangshan Gold adjusts share placement terms, revises shares and pricing
Shangshan Gold International Holdings Limited has updated its placing agreement, extending the long stop date for conditions precedent to November 10, 2025. The maximum number of new shares to be placed has been revised downwards from 37,825,421 to 11,880,000 placing shares. This revised figure represents approximately 2.38% of the existing issued shares and 2.32% of the enlarged share capital after completion.
The placing price has been updated from HK$6.53 to HK$7.71 per placing share. This represents a discount of 7.78% to the closing price of HK$8.36 on October 20, 2025, and a 19.94% discount to the average closing price over the prior five trading days. Gross proceeds are estimated at HK$91,594,800, with net proceeds around HK$90 million after deducting HK$1.59 million in expenses.
The net proceeds of HK$90 million will be allocated across three key areas: HK$35 million for global channel layout and brand system construction, HK$42 million for technology upgrades, supply chain system, and headquarters relocation, and HK$13 million for a new gold, jewelry, and contemporary art business division and general operating expenses.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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