PINE TECH (01079.HK): rights issue oversubscribed by about 13.5%, raising HK$105 million net for memory and server inventory

NewTimeSpace News: On 3 November 2026, Pine Technology Holdings Limited (01079.HK) disclosed that all conditions of its non-underwritten rights issue on the basis of one rights share for every two existing shares had been satisfied, and the rights issue became unconditional at 4:00 p.m. on 28 October.

As at 4:00 p.m. on 27 October, the latest time for acceptance, valid acceptances and applications for 809,628,844 rights shares had been received, representing approximately 113.50% of the 713,350,869 rights shares available for subscription, an oversubscription of 96,277,975 shares (about 13.50%). The gross and net proceeds of the rights issue were approximately HK$107 million and HK$105 million respectively, of which about 50% will be used to purchase memory storage components, 35% to purchase enterprise rack-mount servers, and 15% for general working capital, expected to be fully utilised within 12 months after completion.

Upon completion of the rights issue, the shareholding of the substantial shareholder MicroNova Limited increased from about 50.11% to 61.25%. The fully paid rights shares are expected to commence trading on the Stock Exchange at 9:00 a.m. on 5 November in board lots of 10,000 shares.