China Hong Kong Petroleum (00632.HK): Completes Placing of 87 Million New Shares, Net Proceeds Approximately HK$17.35 Million

NewTimeSpace News: On June 18, 2026, China Hong Kong Petroleum (00632.HK) issued an announcement confirming that all placing conditions have been satisfied. The placing agent has successfully placed an aggregate of 87 million placing shares to no less than six placees at a placing price of HK$0.21 per share.

The total gross proceeds from the placing stand at approximately HK$18.27 million, with net proceeds amounting to around HK$17.35 million. Upon completion, the Company has utilised roughly HK$13 million to settle the outstanding principal owed to Xinhua. The remaining approximately HK$4.35 million is intended to be applied for other business operations and general working capital on or before December 31, 2026.

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