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Ordinary Shares | 12 Months Ended
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Dec. 31, 2024
Ordinary Shares [Abstract] |
ORDINARY SHARES |
| 22. | ORDINARY SHARES
Issued and fully paid:
|  | Number of |  |  | Ordinary |
|  | shares |  |  | Shares |
|  |  |  |  | $’000 |
As of 1 January 2023 |  |  | 25,440,000 |  |  |  | 3 |
Issuance of ordinary shares |  |  | 12,717,391 |  |  |  | 1 |
Conversion of Series A convertible preferred shares |  |  | 14,560,000 |  |  |  | 1 |
Conversion of Financial liabilities at FVTPL |  |  | 42,983,414 |  |  |  | 5 |
As at 31 December 2023 |  |  | 95,700,805 |  |  |  | 10 |
Exercise of share options |  |  | 131,268 |  |  |  | — |
Vesting of RSUs |  |  | 15,000 |  |  |  | — |
Cancel of ordinary shares |  |  | (2 | ) |  |  | — |
As at 31 December 2024 |  |  | 95,847,071 |  |  |  | 10 |
The authorized share capital of the Company as of December 31, 2024 is $50 divided into 500,000,000 Shares of par value of $0.0001 each. In 2021, the Company issued 9,000,000 ordinary shares to Nortye Talent Limited and 6,000,000 ordinary shares to Nortye International Limited respectively to manage the Share Incentive Plan. Among which, nil and 146,268 ordinary shares were paid as of December 31, 2023 and 2024, respectively.

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