AGBA - US$5m placement at a premium
On 15 February AGBA announced term sheets have been executed on a US$5.1m private placement of ordinary shares plus warrants to an institutional investor and AGBA’s group president and management. The terms are similar to the announcement made at the Q323 results with the shares priced at US$0.70 per share, a 62% premium to the previous day’s closing share price. The significant premium signals management’s confidence in AGBA’s long-term value, with group president Mr Wing-Fai Ng taking up 53% of the offer. Moreover, on 27 February AGBA released an investor update signalling a strong recovery in Mainland Chinese visiting Hong Kong over the 2024 Chinese New Year holiday, above 2018 levels. With its continuing focus on costs and sales of non-core activities, AGBA is streamlining itself to benefit from the anticipated continuing recovery in 2024 and beyond.
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- AGBA - US$5m placement at a premium04 Mar 2024