Pinestone Capital Ltd (HK:0804) has released an update.
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Pinestone Capital Ltd has entered into an agreement to place up to 81.21 million new shares at a discounted price of HK$0.176 each, representing a nearly 20% reduction on recent share prices. This move, coordinated with several joint placing agents, aims to raise approximately HK$13.86 million in net proceeds, which will be used to bolster the company’s general working capital. Shareholders are advised to proceed with caution as the placement is contingent upon certain conditions being met.
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