ENVISION GREEN (01783.HK): Completes Placing of Existing Shares and Top-Up Subscription at HKD 4.66 per Share; Completes Subscription of RMB 472 Million Convertible Bonds

NewTimeSpace News: On 20 August 2026, Envision Greenwise Holdings Limited (01783.HK) announced that all conditions under the placing and top-up subscription agreement had been satisfied, with the vendor placing completed on 13 August 2026 and the top-up subscription completed on 20 August 2026. The placing agent successfully placed an aggregate of 117,924,000 existing shares held by the top-up seller at a placing price of HKD 4.66 per share to not fewer than six professional, institutional, corporate and/or other investors; the company issued an aggregate of 117,924,000 new shares to the top-up seller at HKD 4.66 per share, representing approximately 3.92% of the company's issued share capital as enlarged by the top-up subscription. The total proceeds from the placing were approximately HKD 549.53 million, with net proceeds of approximately HKD 538.17 million after deducting related fees and expenses, and a net issue price of approximately HKD 4.56 per placed share. The top-up seller obtained an exemption granted by the SFC under Note 6 to the Note to Rule 26 of the Takeovers Code, and the company has obtained Stock Exchange approval for the listing of and dealings in the subscription shares.

On the same day, all conditions under the convertible bond subscription agreement were satisfied, with the subscription completed on 20 August 2026. The convertible bonds are guaranteed convertible bonds of RMB 472.00 million, settled in USD, bearing interest at 5.00% per annum and due in 2027, issued by a subsidiary under the general mandate; the aggregate subscription proceeds were USD 69.96 million (equivalent to approximately HKD 548.90 million), with net proceeds of approximately USD 68.77 million (equivalent to approximately HKD 539.52 million) after deducting related fees and expenses. The company has submitted a listing application for the bonds to Vienna MTF, operated by the Vienna Stock Exchange, with trading expected to commence on or around 21 August 2026; the company has been approved to list and trade the conversion shares on the Stock Exchange upon full conversion. The company will subsequently complete the necessary CSRC filings in accordance with the CSRC filing rules.

In terms of shareholding structure, immediately before completion of the placing and full conversion, Mr. Kwok Chun Sing and parties acting in concert with him held 1,301,738,000 shares (45.05%); immediately after completion of the placing and top-up subscription but before full conversion, their holding decreased to 43.29%; and after full conversion, further decreased to 41.82%, with total shares increasing to 3,112,419,735.

Regarding the use of proceeds, the company clarified that net proceeds of HKD 969.92 million from the placing and the convertible bond subscription (approximately 90% of total net proceeds) originally earmarked to fund the acquisition and the purchase will be applied as follows: HKD 672.22 million (62%) to fund part of the cash consideration for the acquisition (HKD 560.00 million to fully pay the second instalment and HKD 112.22 million towards part of the third instalment), and HKD 297.70 million (28%) towards part of the consideration for the purchase; the remaining approximately HKD 107.77 million (10%) will replenish the group's cash reserves and be applied to working capital and general corporate purposes. As background, the aggregate base consideration for the acquisition is HKD 2.2 billion, payable in cash and consideration shares in four instalments; the total consideration for the purchase is RMB 1,288.4 million (equivalent to approximately HKD 1,488.5 million, tax-inclusive).

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