Virtual Mind Holding Announces Share Placement to Raise HK$49.9 Million

The latest announcement is out from Virtual Mind Holding Company Limited ( (HK:1520) ).

Virtual Mind Holding Company Limited has announced a share placement under a general mandate, involving the issuance of up to 124,763,816 new shares at a price of HK$0.40 per share. This placement represents approximately 18.61% of the company’s existing issued shares and is expected to raise maximum gross proceeds of approximately HK$49.9 million. The net proceeds of around HK$48.3 million will be used for repaying outstanding liabilities, business development, and general working capital. The placement is being managed by Wanhai Securities (HK) Limited and is subject to conditions precedent, with no guarantee of completion.

More about Virtual Mind Holding Company Limited

YTD Price Performance: -36.76%

Average Trading Volume: 857,667

Technical Sentiment Signal: Buy

Current Market Cap: HK$301.7M

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