UBTECH ROBOTICS is planning to offer a discount of approximately 19.96% for the subscription of 7 million new H shares, raising approximately HK$552 million.

UBTECH ROBOTICS (09880) announced on November 20, 2024 that the company has entered into a placement agreement with the placing agent. The company has appointed the placing agent to act as its agent to facilitate the subscription of a total of 7 million new H shares under the placement agreement. The placement price is HK$83.88 per H share, representing a discount of approximately 19.96% to the closing market price of HK$104.80 per H share on November 19, 2024 (the last trading day and the date of price determination for the placement). The placement shares will represent approximately 1.62% of the enlarged share capital of the company (assuming no changes to the issued share capital of the company from the date of this announcement to the completion of the placement). After deducting related expenses, the company estimates that it will receive a net amount of approximately HK$552 million from the placement, equivalent to a net issue price of approximately HK$78.84 per placement share. The company plans to use the net proceeds from the placement for its business operations and development (including working capital, general corporate purposes, and domestic and overseas investments) as well as to repay the amounts due under credit facilities provided by financial institutions to the group (including principal and accrued interest). The proceeds will be used by the company and its subsidiaries.