Welife Technology to Raise Capital via Discounted Share Placing Under General Mandate
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Welife Technology Limited (HK:1703) has announced a placing agreement to issue up to 230 million new shares at HK$0.064 each, representing 20% of its existing share capital. This discounted share placement will be made to at least six independent investors under the company's general mandate, avoiding the need for shareholder approval. If fully placed, the total share capital will increase to 1.38 billion shares. The proceeds will be used for general working capital, pending Stock Exchange approval for the new shares.
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