CONANT OPTICAL completes nearly 1.4 billion yuan in placement, with funds primarily directed towards XR business layout

CONANT OPTICAL (02276.HK) announced the completion of a placement of a total of 27 million shares under the general authorization, accounting for approximately 5.33% of the enlarged share capital, at a price of HKD 52 per share, expected to raise nearly HKD 1.4 billion.

Of the net proceeds, 40% will be used for the construction of production lines and equipment purchases for XR supporting businesses; approximately 20% will be used to enhance R&D capabilities and establish a precision optical supporting center for XR smart glasses business; about 20% will be used to expand XR-related capacity and smart manufacturing capabilities at the Thailand factory; the remaining approximately 20% will be used for general working capital to optimize the capital structure and provide reserve funds for potential mergers and acquisitions