---
title: "REACH NEW HLDGS plans to place up to 204 million new shares at a discount of 18.03%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/241633924.md"
description: "REACH NEW HLDGS announced that it will place up to 204 million new shares on May 23, 2025, at a placing price of HKD 0.1 per share, representing a discount of 18.03% to the closing price of HKD 0.122 on that day. The placed shares account for approximately 19.96% of the existing issued share capital and will represent approximately 16.64% after issuance. The subscribers must be independent third parties"
datetime: "2025-05-23T13:03:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/241633924.md)
  - [en](https://longbridge.com/en/news/241633924.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/241633924.md)
---

# REACH NEW HLDGS plans to place up to 204 million new shares at a discount of 18.03%

According to the announcement from REACH NEW HLDGS (08471), on May 23, 2025 (after trading hours), the company entered into a placement agreement with the placement agent. Under the placement agreement, the company conditionally agrees to allot and issue, while the placement agent conditionally agrees to place up to 204 million new shares to no less than six placees on a best efforts basis, with a placement price of HKD 0.1 per share. The placees and (if applicable) their respective ultimate beneficial owners must be independent third parties. The placement shares will be issued under the general mandate.

The placement shares represent approximately 19.96% of the company's existing issued share capital and approximately 16.64% of the company's issued share capital after the allotment and issuance of the placement shares.

The placement price of HKD 0.1 per placement share represents a discount of 18.03% to the closing market price of HKD 0.122 per share reported on the Stock Exchange on May 23, 2025 (the date of the placement agreement)

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