CHUAN HOLDING (01420) plans to issue approximately 207 million new shares to Mr. Pang Yaojie, raising approximately HKD 15,339.5 million in funds.

Chuan Holding (01420) announced that Pang Yaojie will be reappointed as an executive director from a non-executive director, effective January 1, 2024. Pang Yaojie will also become the Chairman of the Board of Directors and continue to serve as the Chairman of the Nomination Committee. On November 17, 2023, the company entered into a subscription agreement with Pang Yaojie. The company plans to issue approximately 207 million new shares to Pang Yaojie, accounting for approximately 16.67% of the enlarged share capital. The subscription price is HKD 0.074 per share, with a total consideration of approximately HKD 15,339,500 in cash.