The subscription rate for the IRC rights issue is approximately 73%, and the unsubscribed shares will be handled through placement

IRC (01029.HK) announced the results of its rights issue, having received 8 valid applications involving approximately 467 million shares, accounting for about 73.03% of the shares offered.

According to the previously established irrevocable commitment, the underwriters have subscribed for approximately 415 million shares as per their allocation. The remaining approximately 172 million shares (accounting for about 26.97% of the offered shares) were not subscribed and will enter the compensation process.

The company has entrusted the placement agent to place the unsubscribed shares to independent investors on a best-efforts basis after the subscription deadline, with the placement price not being lower than the subscription price. The related net proceeds will be proportionally distributed to shareholders who did not participate in the rights issue.

However, if the amount received by shareholders who did not participate in the rights issue does not exceed HKD 100, that amount will be allocated to the company; if it exceeds HKD 100, the full amount will be paid to the shareholder in HKD. The placement agent will make every effort to find buyers for all remaining shares before 4 PM on February 2, 2026. The company expects to announce the final results of the rights issue on February 5, 2026