JOLIMARK plans HK$86.38 million share placement; proceeds earmarked for payroll and debt repayment

Bulletin Express
Jul 08

JOLIMARK Holdings Limited released supplemental details on its proposed placement of up to 122.58 million new shares under the general mandate at HK$0.72 per share.

Based on the disclosed allocation percentages, the transaction is expected to raise net proceeds of roughly HK$86.38 million. Key uses are as follows:

1. Staff salaries and benefits • 21.99% of net proceeds, or about HK$19.00 million, will fund staff salaries, social insurance and pension payments. • The company previously placed the same number of shares on 26 May 2026 at HK$0.11 per share, allocating 60% (HK$7.80 million) for the same expense category. Approximately HK$4.00 million of that earlier amount has already been spent; the remaining HK$3.80 million is scheduled for full utilisation by 31 July 2026. • Proceeds from the new placement designated for payroll are expected to be used within 12 months after completion.

2. Bank-loan repayment • 31.25% of net proceeds, or HK$27.00 million, is slated for repayment of working-capital bank loans within three months of completion. • Outstanding facilities to be settled total HK$26.22 million (principal plus interest) and comprise: – Bank A: HK$23.48 million maturing in August and September 2026 at 3.30% p.a. – Bank B: HK$0.39 million maturing in 2028 at rates of 3.55%–3.70% p.a.

Completion of the placement remains subject to the conditions outlined in the placing agreement. Shareholders and prospective investors are advised to exercise caution when dealing in the shares.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10