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Ordinary Shares
 12 Months Ended
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.