Zhitong Finance APP News, China Baoli Technology (00164) announced that on May 7, 2024, the company plans to place up to 1,680 sharespenn8000affinity.3,000 placed shares, equivalent to approximately 16.67% of the company's enlarged issued share capital. The placing price was HK$1.030 per placing share, a discount of approximately 16.94% to the closing price of HK$1.240 per share on May 7.

Assuming that the placing agent successfully places all placed shares, the placingpenn8000affinityThe total proceeds from the Group will be approximately HK$17 million and the net proceeds will be approximately HK$16 million. The Directors intend to use the entire net proceeds to settle the Group's outstanding liabilities in the amount of approximately HK$11.2 million; develop the Group's business in the amount of approximately HK$3.2 million; and the Group's general working capital in the amount of approximately HK$1.6 million.