Harbour Equine (08377.HK): Proposes Placing of Up to 98.19M Shares at HK$0.08 Each

newtimespace.com reports, Harbour Equine Holdings Limited (Stock Code: 8377) announced that on 13 July 2026 (after trading hours), the company entered into a placing agreement with the placing agent, Mega Capital Securities Limited, pursuant to which the company conditionally agreed to place up to 98,187,500 placing shares to placees (who themselves and their beneficial owners must be independent third parties) on a best-efforts basis at a placing price of HK$0.08 per placing share. The placing price of HK$0.08 per share represents a discount of approximately 14.89% to the closing price of HK$0.094 per share on the date of the placing agreement, and a discount of approximately 17.01% to the average closing price of HK$0.0964 per share for the last five consecutive trading days immediately preceding the date of the placing agreement. Assuming no change in the company's issued share capital from the date of this announcement to completion, the maximum 98,187,500 placing shares represent approximately 20.00% of the existing issued share capital and approximately 16.67% of the enlarged issued share capital.

Upon completion and assuming all placing shares are successfully placed by the placing agent, the gross proceeds from the placing are expected to be a maximum of HK$7,855,000, and the net proceeds after deducting placing commission and other related expenses are estimated to be approximately HK$7,590,000. The company intends to apply approximately HK$4.05 million of the net proceeds to repay existing borrowings, accounts payable and other payables of the group, and approximately HK$3.54 million as general working capital of the group. The placing shares will be allotted and issued under the general mandate granted to the directors by a shareholders' resolution passed at the annual general meeting held on 29 May 2026, and no further shareholders' approval is required. Completion of the placing is subject to the fulfilment of conditions under the placing agreement, including the approval for listing and trading of the placing shares by the GEM Listing Committee. If the conditions are not fulfilled on or before 31 July 2026, the placing agreement will be terminated.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.