XTALPI-P (02228) plans to offer up to 264 million shares, raising approximately HK$1.125 billion in net proceeds.

XTALPI-P (02228) announced that on January 18, 2025, the company entered into a placement agreement with a placement agent, with the company intending to place up to 264 million shares through the placement agent, representing approximately 7.18% of the enlarged share capital. The placement price per share is HK$4.28, assuming all 264 million shares are fully subscribed, the net proceeds will be approximately HK$1.125 billion. The directors believe that the placement is a good opportunity for the company to raise funds and expand its shareholder base. They also believe that the placement will strengthen the group's financial position and provide operational funds. The announcement stated that the company intends to use the net proceeds from the placement primarily for continuous product iteration and upgrades, enhancing research and development capabilities and solution capabilities; promoting the commercial development of the company, strengthening external cooperation, expanding the company's scale and market share; potential investment opportunities, talent attraction and recruitment, supplementing operational funds, and general corporate purposes.