XIN YUAN ENT (01748) plans to offer a discount of approximately 13.67% on the issuance of 88 million subscribed shares, with a net fundraising of approximately 1.05 billion Hong Kong dollars.

XIN YUAN ENT (01748) announces that on January 6, 2025, the company entered into a subscription agreement with a subscriber. The company conditionally agreed to issue and allot, while the subscriber conditionally agreed to subscribe for 88 million shares of subscription shares at a total subscription price of 106 million Hong Kong dollars, to be paid in cash to the company upon completion. The total of 88 million subscription shares represents approximately 16.67% of the enlarged issued share capital of the company after the subscription shares have been issued and allotted (assuming that there have been no changes to the company's issued share capital from the date of this announcement until completion). The maximum total nominal value of the subscription shares will be 880,000 US dollars. The subscription price per share of 1.20 Hong Kong dollars represents a discount of approximately 13.67% to the closing price of 1.39 Hong Kong dollars per share on the Stock Exchange on January 6, 2025. Upon completion, the net proceeds will be approximately 105 million Hong Kong dollars (after deducting legal fees, other professional fees, and expenses related to the subscription). The net issue price per share of subscription shares will be 1.19 Hong Kong dollars. The company intends to use (i) approximately 94.5 million Hong Kong dollars (approximately 90% of the net proceeds) to pay the remaining consideration of 25.20 million US dollars for the vessel acquisition; and (ii) approximately 10.5 million Hong Kong dollars (approximately 10% of the net proceeds) for general operating capital of the group.