DA SEN HLDGS (01580.HK): terminates placing of up to 219.12m new shares

NewTimeSpace News: On 8 October 2026, Da Sen Holdings Group Limited (stock code: 01580) announced that, in view of the unstable market conditions, the placing agent and the Company entered into a termination agreement on 8 October 2026 and mutually agreed to terminate the Placing Agreement. As a result, all rights and obligations of the parties under the Placing Agreement have ceased to have effect from 8 October 2026.

According to the announcement, the Company had on 18 September 2026 (after trading hours) entered into the Placing Agreement with the placing agent to place up to 219,120,000 new shares at HKD 0.241 per share under the General Mandate, with gross and net proceeds expected to be approximately HKD 52.8 million and HKD 52.2 million, of which HKD 23 million was intended for repaying the Group's existing debts; the Company subsequently entered into a supplemental agreement on 7 October 2026 extending the long stop date from 7 October 2026 to 21 October 2026.

The Board considers that the termination of the Placing Agreement and the placing contemplated thereunder has no material adverse impact on the financial position and operations of the Group; the Company may consider engaging in further fund raising activities taking into account the future development of the Group and the market conditions, and will keep the market informed by way of announcement in compliance with the Listing Rules.

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