HK ROBOTICS (00370.HK): Proposes One-for-Two Rights Issue at HKD 0.21, a 23.6% Discount, to Raise up to HKD 203.3 Million Net

NewTimeSpace · 2026/09/15 08:08 · By Jiayi Sun

On 15 September 2026, HK ROBOTICS (00370.HK) published a rights issue prospectus proposing a one-for-two rights issue of 1,048,812,995 shares at HKD 0.21 each to raise approximately HKD 220.3 million before expenses and up to approximately HKD 203.3 million net, at a discount of approximately 23.6% to the latest practicable date closing price, with a theoretical dilution effect of approximately 7.41% and no shareholders' approval required.

Key Highlights:

As at the latest practicable date the Company had 2,097,625,991 issued shares, and the rights shares represent 50.0% of the existing issued share capital and approximately 33.3% of the enlarged share capital, taking the issued shares to 3,146,438,986 immediately after completion.
RaffAello Securities (HK) Limited acts as underwriter under an underwriting agreement dated 27 August 2026, and South Leader Limited, holding 624,980,154 shares (approximately 29.79%) and wholly owned by chairman and non-executive director Mr. Li Mengzhe, has irrevocably undertaken to accept its full entitlement.
As at 31 July 2026, the Group's principal outstanding debts comprised an overdue loan of RMB 200 million with accrued interest of approximately RMB 79.4 million and two unsecured short-term loans with interest of approximately RMB 3.33 million, and the Company had not reached agreement with the lender on an extension or restructured repayment arrangement.

NewTimeSpace News: On 15 September 2026, Hong Kong Robotics Group Holding Limited (stock code: 00370) published a rights issue prospectus proposing to issue 1,048,812,995 rights shares at HKD 0.21 each on a one-for-two basis, to raise approximately HKD 220.3 million before expenses and up to approximately HKD 203.3 million net.

The subscription price represents a discount of approximately 23.6% to the closing price of HKD 0.275 on the latest practicable date (10 September 2026) and 22.2% to the closing price of HKD 0.27 on the last trading day, with a theoretical dilution effect of approximately 7.41%. As at the latest practicable date the Company had 2,097,625,991 issued shares; the rights shares represent 50.0% of the existing issued share capital and approximately 33.3% of the enlarged share capital, taking the issued shares to 3,146,438,986 upon completion.

RaffAello Securities (HK) Limited acts as underwriter, and South Leader Limited (approximately 29.79%), wholly owned by chairman and non-executive director Mr. Li Mengzhe, has irrevocably undertaken to accept its full entitlement. Approximately 66.3% of the proceeds will fund the robotics business, while approximately 17.2% (about HKD 35 million) will form a special reserve to partially settle the Group's debts.

As the rights issue will not increase the number of issued shares or market capitalisation by more than 50% within twelve months, no shareholders' approval is required under Rule 7.19A(1) of the Listing Rules. The nil-paid rights shares will be traded from 17 to 24 September 2026, the latest time for acceptance and payment is 4:00 p.m. on 29 September 2026, and the fully-paid rights shares are expected to be traded from 8 October 2026.

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