ITC NEOCLOUD (00199.HK) to place up to 76.92m new shares at HK$0.65 each

NewTimeSpace News: On 1 November 2026, ITC Neocloud Group Limited (00199.HK) disclosed that it entered into a placing agreement with a placing agent on 30 October 2026 (after trading hours) to place up to 76,923,076 new shares to no fewer than six independent placees on a best-efforts basis.

The placing price is HK$0.65 per share, a premium of about 11.1% over the closing price of HK$0.585 on the agreement date and about 3.17% over the five-day average closing price of about HK$0.63. The placing shares represent about 7.07% of the issued shares (6.60% as enlarged) and will be issued under the general mandate, requiring no further shareholder approval.

The company expects gross and net proceeds of about HK$50 million and HK$49.1 million respectively, with the net proceeds used entirely as general working capital. The company, formerly ITC Properties Group Limited, has been renamed ITC Neocloud Group Limited to consolidate its capital base and support long-term development.