Hong Kong Life Group (HKG:8212) has agreed to place, on a best effort basis, up to 21 million shares at HK$0.29 per share, raising HK$6.09 million. The estimated net proceeds of HK$5.76 million will be used as the group's general working capital.

The placing price represents a discount of 17.14% to the stock's closing price of HK$0.35 yesterday and the placing shares represent 16.43% of the enlarged issued share capital of the Company.