News summary

Lianhua Supermarket (00980vrcryptogames.HK) signed a share subscription agreement with Bailian Groupvrcryptogames, planned release 3vrcryptogames.60 million new domestic shares are expected to raise RMB 360 million to be used for business transformation and increased working capital.

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Lianhua Supermarket (00980.HK) plans to issue no more than 360 million new shares to Bailian Group Lianhua Supermarket (00980.HK) announced on May 12 that it has reached a share subscription agreement with Bailian Group. According to the agreement, Lianhua Supermarket will issue no more than 360 million new domestic shares to Bailian Group at a price of RMB 1.00 per share, a premium of approximately 249.37% to the closing price of the company's H shares on the last trading day of the Stock Exchange. The total amount raised is expected to be approximately RMB 360 million, and the net amount raised is approximately RMB 358 million. The company plans to use the raised funds to transform the business ecosystem and increase the companyvrcryptogamesGeneral working capital. This fundraising will help Lianhua Supermarket further enhance its market competitiveness and profitability.