MOG DIGITECH (01942.HK): Rights issue 27.73% subscribed, unsubscribed shares placed to 6 placees

NewTimeSpace News: On 2 September 2026, MOG Digitech Holdings Limited (stock code: 01942) announced the results of its rights issue on the basis of one rights share for every two shares held. At 4:00 p.m. on 11 August 2026, being the latest time for acceptance, the Company received valid applications and acceptances for provisional allotments under a total of 4 letters of provisional allotment, covering 190,251,021 rights shares, representing approximately 27.73% of the total number of rights shares offered. The rights issue was under-subscribed, leaving 495,879,268 rights shares unsubscribed (representing approximately 72.27%), which were subject to a compensation arrangement.

As of 4:00 p.m. on 25 August 2026, being the latest time for the placing agent to place the unsubscribed rights shares, 495,878,000 unsubscribed rights shares were successfully placed to 6 independent placees at a placing price of HKD 0.065 per unsubscribed rights share (equal to the subscription price). Accordingly, under the compensation arrangement, there were no net proceeds available for distribution to the inactive shareholders. As a result, the rights shares to be allotted and issued (including the unsubscribed rights shares) total 686,129,021 rights shares, representing approximately 100.00% of the total number of rights shares available for subscription under the rights issue. As all conditions under the rights issue prospectus were fulfilled, the rights issue became unconditional on 27 August 2026.

The total gross proceeds raised from the rights issue (including the compensation arrangement) amount to approximately HKD 44.6 million, with net proceeds (after deducting all related expenses) of approximately HKD 43.2 million, of which approximately 50% will be used to inject capital into the Group's existing financing services business and approximately 50% will be allocated as general working capital (including staff-related costs and rental costs). Immediately after completion, Charming Blaze Limited (ultimately beneficially owned by Mr. Li Zumin) holds 10.31%, the placees hold an aggregate of 24.09%, and public shareholders hold 65.60%. Share certificates for the fully paid rights shares are expected to be despatched on 3 September 2026, and trading in the fully paid rights shares is expected to commence on the Stock Exchange at 9:00 a.m. on 4 September 2026.

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