QUANTGROUP (02685.HK): Placing of Up to 48.53 Million Shares at 15.32% Discount, Net Proceeds About HK$ 162.6 Million

NewTimeSpace News: On 16 September 2026 (after trading hours), Quantgroup Holding Limited (stock code: 02685) entered into a placing agreement with the joint placing agents to place up to 48,529,412 placing shares at a placing price of HK$ 3.40 per share. The placing shares represent approximately 9.34% of the existing issued share capital of the Company and approximately 8.54% of the issued share capital as enlarged by the allotment and issue of the placing shares.

The placing price represents a discount of approximately 15.32% to the closing price of HK$ 4.015 per share as quoted by the Stock Exchange on 16 September 2026, and a discount of approximately 15.57% to the average closing price of approximately HK$ 4.027 per share quoted by the Stock Exchange over the last five consecutive trading days up to and including 15 September 2026. Assuming all placing shares are placed, the gross proceeds are expected to be approximately HK$ 165.0 million and the net proceeds approximately HK$ 162.6 million.

The net proceeds are intended to be used as to approximately 55% for e-commerce business development, approximately 15% for research and development and approximately 30% as general working capital. The placing shares will be allotted and issued under the general mandate approved by shareholders at the annual general meeting held on 26 June 2026, which permits the issue of up to 103,019,500 shares, being 20% of the issued shares as at the date of the annual general meeting; as at the date of the announcement, 4,597,701 shares had been allotted and issued under the general mandate.

Completion is subject to the fulfilment of the conditions set out in the placing agreement, including the Listing Committee granting approval for the listing of and permission to deal in the placing shares; if the listing condition is not fulfilled by 31 December 2026, the joint placing agents may terminate the placing agreement. The placing shares are expected to be placed to not fewer than six professional, institutional or other investors, and no placee is expected to become a substantial shareholder immediately after completion.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.