CHINA HK POWER (00931.HK): To issue 50 million new shares at HKD 0.290 each, net proceeds about HKD 14.3 million
- The subscription price represents a discount of approximately 6.5% to the closing price of HKD 0.310 per share on the last trading day and a discount of approximately 9.1% to the average closing price of HKD 0.319 per share over the last five consecutive trading days.
- The gross proceeds are estimated at approximately HKD 14.5 million, the net subscription price per share is HKD 0.286 and the aggregate nominal value of the subscription shares is HKD 1,000,000.
- Following completion, the aggregate shareholding of Dr. Jian Zhijian and Ms. Jian Gong Chuanli will be diluted from 54.96% to 54.63%, the Subscriber will hold 0.61% and other public shareholders will see their shareholding decrease from 45.03% to 44.75%.
NewTimeSpace News: On 14 September 2026, after the trading hours of the Stock Exchange, CHINA HK POWER SMART ENERGY GROUP LIMITED (stock code: 00931) announced that it has entered into a subscription agreement with Ms. Huang Jiajia (the Subscriber), under which the Company has conditionally agreed to allot and issue a total of 50,000,000 new shares at a subscription price of HKD 0.290 per share. The subscription shares represent approximately 0.61% of the 8,157,900,589 shares in issue as at the date of the announcement and approximately 0.61% of the enlarged total number of shares in issue of 8,207,900,589 shares immediately after completion. The subscription price represents a discount of approximately 6.5% to the closing price of HKD 0.310 per share as quoted on the Stock Exchange on the last trading day and a discount of approximately 9.1% to the average closing price of HKD 0.319 per share over the last five consecutive trading days up to and including the last trading day.
The gross and net proceeds from the issue of the subscription shares are estimated at approximately HKD 14.5 million and HKD 14.3 million, respectively, and the Company intends to apply the entire net proceeds as general working capital of the Group, including rental expenses, staff costs, professional fees and other general administration and operating expenses. The subscription shares will be issued under the 2026 general mandate and the subscription is therefore not subject to shareholders' approval, and the Company will apply to the Listing Committee of the Stock Exchange for the listing of, and permission to deal in, the subscription shares. The Subscriber is a professional equity investor with more than five years of experience who held no shares or other securities of the Company as at the date of the announcement and is, to the best of the Directors' knowledge, an independent third party. Completion is conditional upon the fulfilment of the conditions in the subscription agreement, including the Stock Exchange's approval of the listing of, and permission to deal in, the subscription shares, with a long-stop date of 14 October 2026.
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