"Resumption of Trading" ITC PROPERTIES issues new shares at a discount of 19.72%, raising a net amount of 160 million yuan

ITC PROPERTIES (00199.HK) announced that it will issue a total of 141.5 million new shares to independent third party Wu Jie Zhuang and major shareholder Liu Hao Ran, at a price of HKD 1.14 per share, representing a discount of 19.72% compared to the last trading price before suspension. The net proceeds of HKD 160 million are intended for strategic transformation and upgrading of traditional real estate business through integration into the Web3 ecosystem; asset-oriented investment and project cultivation plans; expansion of Web3-related application layers and asset empowerment arrangements; and general working capital.

At the same time, it will issue 180 million warrants to Liu Hao Ran at an issue price of HKD 0.1, with net proceeds of HKD 16 million. The warrants have a term of one year, with an exercise price of HKD 1.704, making the total cost HKD 1.804, representing a premium of 27.04% compared to the last trading price before suspension. If fully exercised, the additional net proceeds will be approximately HKD 306 million.

The company's shares have applied to resume trading on Wednesday (21st)