China Internet Investment Finance Holdings Limited (SEHK:810) entered into the placing agreement pursuant to which the placing agent agreed to place, on a best effort basis, up to 90.99 million placing shares. The gross proceeds from the placing will be approximately HKD 23.6 million. The net proceeds from the Placing will amount to approximately HKD 23 million which is intended to be used for the general working capital of the group and for potential investments to be identified.