PINE TECH (01079.HK): 1-for-2 Rights Issue to Raise Up to About HKD 107m

NewTimeSpace News: On 12 October 2026, Pine Technology Holdings Limited (stock code: 01079) published its rights issue prospectus on the basis of one rights share for every two existing shares held on the record date, at a subscription price of HKD 0.15 per rights share, to issue up to 713,350,869 rights shares and raise gross proceeds of up to about HKD 107.0 million (assuming full subscription), on a non-underwritten basis.

The rights shares represent about 50.00% of the Company's total issued shares as at the latest practicable date and about 33.33% of the enlarged issued share capital (assuming full subscription); net proceeds after expenses would be up to about HKD 105.0 million, or a net subscription price of about HKD 0.147 per rights share. The subscription price represents a discount of about 15.25% to the closing price of HKD 0.177 per share as at the latest practicable date, with a theoretical dilution effect of about 14.32%, below 25%.

There is no statutory minimum subscription level or minimum amount to be raised. Conditionally on the conditions being fulfilled, the rights issue will proceed on a non-underwritten basis regardless of the acceptance level, and will be scaled down if not fully subscribed. The rights issue is conditional on, among others, the Listing Committee's approval of the listing and trading of the rights shares and the registration of the prospectus documents, and will not proceed if the conditions are not fulfilled by 4:00 p.m. on 28 October 2026.