HENG TAI completed a placement of 30.605 million shares in a "new shares for old" arrangement, raising approximately HKD 14.2 million
HENG TAI completed the placement of 30.605 million shares, netting approximately HKD 14.2 million. The placement was completed on October 10 and 17, 2025, at a price of HKD 0.476 per share. The funds raised will be used for renovating the Shanghai logistics center, purchasing new equipment, and general working capital
According to the announcement from HENG TAI (00197), the placement and subscription matters were completed on October 10, 2025, and October 17, 2025, respectively. The placement agent successfully placed a total of 30.605 million placement shares to no fewer than six subscribers at a placement price of HKD 0.476 per share, which is approximately 14.63% of the company's enlarged issued share capital immediately after the completion of the subscription. The total amount raised from the subscription and the net proceeds are approximately HKD 14.6 million and HKD 14.2 million, respectively.
The company intends to use the net proceeds from the subscription in the same manner as disclosed in the previous announcement, namely approximately HKD 7.5 million for renovations of the building at the logistics center located in Shanghai, People's Republic of China, and for the replacement and upgrading of furniture and logistics equipment by October 31, 2026; approximately HKD 2.7 million for the procurement of new equipment and the expansion of personnel at the processing center in Dongguan, China, by October 31, 2026; and approximately HKD 4 million for the group's general working capital (including but not limited to employee salaries, office rent and rates, and other general administrative expenses) by June 30, 2026
