AI ENERGY ENG (01751.HK): Rights Issue of 2 Shares for Every 5 Held at 9.09% Discount, Net Proceeds Up to HK$ 72.4 Million

NewTimeSpace News: On 17 September 2026, AI Energy Engineering Holdings Limited (stock code: 01751) published a rights issue prospectus to issue up to 116,477,534 rights shares at HK$ 0.65 per rights share on the basis of two rights shares for every five shares held by qualifying shareholders on the record date, representing approximately 40% of the existing issued shares and approximately 28.57% of the issued share capital as enlarged by the allotment and issue of the rights shares. Gross proceeds are expected to be up to approximately HK$ 75.7 million and net proceeds up to approximately HK$ 72.4 million.

The subscription price of HK$ 0.65 represents a discount of approximately 9.09% to the closing price of HK$ 0.715 per share on the last practicable date (10 September 2026) and a discount of approximately 7.80% to the closing price of HK$ 0.705 per share on the last trading date (17 August 2026). The rights issue will be made on a non-underwritten basis with no minimum subscription level, and its size will be scaled down if it is undersubscribed; unsubscribed rights shares will be placed to independent placees on a best-effort basis through the placing agent, Altus Capital Management Limited.

The net proceeds are intended to be used as to approximately HK$ 48 million (approximately 66.3%) to fulfil performance bond requirements and approximately HK$ 24.4 million (approximately 33.7%) for upfront project costs. Trading in the nil-paid rights shares will take place from 21 September to 28 September 2026, the latest time for acceptance and payment is 4:00 p.m. on 2 October 2026, and the shares will be traded in board lots of 2,000 shares.

As the rights issue, when aggregated with the previous rights issue (one rights share for every three shares in March 2026, completed in May 2026), will not increase the number of issued shares or the market capitalisation by more than 50%, no shareholders' approval is required; the theoretical and cumulative dilution effects are both below 25%.

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