KNT HOLDINGS (01025.HK): Placing of up to 37,873,488 new shares at HKD 0.2 per share under general mandate, net proceeds of approximately HKD 7.25 million for working capital
NewTimeSpace News: On 1 September 2026 (after trading hours), KNT Holdings Limited (stock code: 01025) announced that it entered into a placing agreement with the placing agent, Grand China Securities Limited, pursuant to which the Company conditionally agreed to place, through the placing agent on a best efforts basis, up to 37,873,488 placing shares at a placing price of HKD 0.20 per placing share to not fewer than six placees. The placing shares will be allotted and issued under the general mandate and represent the entire unused portion of the general mandate as of the date of this announcement.
The maximum of 37,873,488 placing shares represents approximately 8.47% of the existing issued share capital of 447,367,440 shares and approximately 7.81% of the enlarged issued share capital of 485,240,928 shares. The placing price of HKD 0.20 per share, which equals the par value of the shares, represents a premium of approximately 0.50% to the closing price of HKD 0.200 per share as quoted on the Stock Exchange on the date of the placing agreement (1 September 2026), with a net price of approximately HKD 0.191 per placing share. The maximum gross proceeds of the placing are expected to be approximately HKD 7,570,000, with maximum net proceeds of approximately HKD 7,250,000 (after deducting commission, professional fees and other related fees and expenses), and the Company intends to use all of the net proceeds as general working capital of the Group. Grand China Securities Limited, the placing agent, is a licensed corporation permitted to carry out Type 1, 2, 4 and 9 regulated activities, and the placing commission is 3.0% of the aggregate amount actually placed.
The Group is an investment holding group principally engaged in garment manufacturing, retail and trading, including bridesmaid dresses, wedding gowns, special occasion wear, fashion apparel, fabrics and accessories. The announcement disclosed that, due to the persistent trade tensions between the United States and the People's Republic of China, tariff increases, ongoing macroeconomic uncertainty and the continued downturn in the Group's key markets (with a majority of the Group's revenue derived from customers located in the United States), the Group's working capital position remains under pressure, and the Board has been seeking suitable financing opportunities to strengthen the Group's financial position, replenish its working capital and support its going concern. Completion of the placing is subject to, among other things, the approval of the listing of and permission to deal in the placing shares by the Listing Committee of the Stock Exchange, and the general mandate will be fully utilised upon completion; the placing may or may not proceed.
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