Hong Kong-based HG Semiconductor Ltd has announced placement of 30 million new shares at the placing price of HK$3.20 per share to no less than six placees. In addition, the group has entered into an investment agreement with Profit Act Ltd, an entity indirectly wholly owned by GCL Technology Holdings Ltd’s founder, chairman & executive director Zhu Gongshan, pursuant to which the group had conditionally agreed to allot and issue, and the strategic investor had conditionally agreed to subscribe for 60 million subscription shares and 60 million warrants...
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