Acme International plans share placement to fund green energy projects

Acme International Holdings Limited is undertaking a placing of up to 30,000,000 new shares at HK$0.55 per placing share, aiming to raise gross proceeds of HK$16.5 million. The placing shares represent approximately 3.04% of the existing issued share capital and 2.95% of the enlarged issued share capital. This initiative, executed through placing agent Valuable Capital Limited, seeks to procure at least six independent third-party placees.

The net proceeds, estimated at HK$16.1 million, will primarily support the company's green power energy projects. Approximately HK$6.4 million (40%) is earmarked for the development of electricity trading business and other related green power energy projects in the PRC. The remaining HK$9.7 million (60%) will be allocated to general working capital, covering professional fees, staff salaries, office rental, utilities, and other expenses.

The placing is conditional on the listing committee's approval and other necessary consents, with completion expected within four business days after all conditions are met. This move aligns with the company's strategy to capitalize on business opportunities in the green power energy sector and improve liquidity, given recent upward trends in share price.