MIKO INTL plans to place up to 31.6352 million placement shares at a discount of approximately 15.32%

According to the announcement from MIKO INTL (01247), on May 26, 2025, the company entered into a placement agreement with the placement agent, which conditionally agreed (as the exclusive agent of the company) to use its best efforts to place up to 31.6352 million placement shares at the placement price, subject to the fulfillment of the conditions precedent for the placement. The company has conditionally agreed to issue and allot the placement shares at the placement price. The placement shares will be issued and allotted under the general mandate. Assuming there is no change in the company's issued share capital between the date of this announcement and the completion of the placement, the maximum number of placement shares represents approximately 16.89% of the company's existing issued share capital as of the date of this announcement; and the enlarged issued share capital of the company after the completion of the placement will be approximately 14.45%. The total nominal value of the maximum number of placement shares under the placement will be HKD 3.1635 million. Upon completion of the placement, it is expected that the maximum number of 31.6352 million placement shares will be fully placed, and the net proceeds (after deducting the placement commission, professional fees, and all related expenses borne by the company) from the placement are expected to be approximately HKD 41.9 million. Based on this, the net issue price will be approximately HKD 1.32 per placement share. The expected net proceeds will be used for further development of the group's supply chain management business. The placement price is HKD 1.35 per placement share, representing a discount of approximately 15.32% to the closing price of HKD 1.59 per share on the Stock Exchange on the date of the placement agreement; and a discount of approximately 15.00% to the average closing price of HKD 1.584 per share on the Stock Exchange over the last five trading days (including all days) prior to the date of this announcement