Microware Group (01985.HK): Proposes Placing of Up to 30 Million Shares at HK$3.35 Each

NewTimeSpace · 2026/07/07 09:32 · By Zeyu Wu

NewTimespace.com reports, Microware Group proposes to place up to 30 million shares at HK$3.35 each, representing a 3.2% discount to the closing price, to raise net proceeds of approximately HK$99.2 million. About 40% will be used to expand existing principal businesses and deepen AI R&D, 40% to improve liquidity, and 20% for general working capital. Upon completion, the controlling shareholder's stake will decrease from approximately 56.20% to 51.09%.

NewTimespace.com reports, Microware Group Limited (Stock Code: 1985) announced that on 6 July 2026 (after trading hours), the company entered into a placing agreement with the placing agent, pursuant to which the company appointed the placing agent on a best-efforts basis and subject to the fulfilment of the conditions precedent under the placing agreement, to place up to 30,000,000 placing shares to not fewer than six independent placees at a price of HK$3.35 per placing share.

The placing price of HK$3.35 per placing share represents a discount of 3.2% to the closing price of HK$3.460 per share quoted on the Stock Exchange on the date of the placing agreement, and a discount of approximately 1.6% to the average closing price of HK$3.406 per share for the last five trading days immediately preceding the date of the placing agreement.

Assuming the placing shares are fully placed, the gross proceeds and net proceeds from the placing will be HK$100.5 million and approximately HK$99.2 million, respectively. The company intends to apply approximately 40% or HK$39.6 million of the net proceeds to expand its existing principal businesses, including enhancing technical capabilities and deepening research and development in AI-related businesses; approximately 40% or HK$39.6 million to improve liquidity levels; and approximately 20% or HK$20.0 million for general working capital.

As the placing shares will be issued under the general mandate, the placing is not subject to shareholders' approval. Assuming full placement, the shareholding of the controlling shareholder Weiye Holdings Group Limited will decrease from approximately 56.20% to approximately 51.09%.

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