On January 15, Man Wah Holdings announced that the company intends to issue 150 million new shares at a placing price of HK$15.85 per share. The placing shares account for approximately 3.79% of the enlarged total issued shares. The total amount of this placement is expected to be 2.378 billion Hong Kong, China dollars (approximately 1.985 billion yuan), which will be used to expand the production facilities of Chinese factories,  information-based new retail, increase the number of stores and general corporate purposes.