HK Stock Market Move | Yunfeng Fin (00376) fell more than 11% and intends to offer a discount of approximately 16.8% for its existing shareholders to subscribe for new shares. The company plans to raise approximately HK$1.15 billion in net proceeds.

YUNFENG FIN (00376) fell more than 11%, as of the time of reporting, down by 11.05% to 6.52 Hong Kong dollars, with a turnover of 1.398 billion Hong Kong dollars. In terms of news, YUNFENG FIN announced that on September 16, 2025 (before the trading session), the company, the seller Jade Passion Limited, and the placement agent entered into a placement and subscription agreement. According to the agreement: the seller has agreed to sell, and the placement agent has individually (not jointly or jointly and severally) agreed to act as the agent for the seller, making efforts to ensure that no less than six underwriters purchase 1.91 billion shares of the sale shares at a placement price of 6.10 Hong Kong dollars per share; and the seller has conditionally agreed to subscribe, and the company has conditionally agreed to issue and allocate subscribed shares to the seller at a subscription price of 6.10 Hong Kong dollars per share under the general mandate (the number of subscribed shares shall be the same as the number of shares sold by the placement agent under the placement and subscription agreement). The placement price of 6.10 Hong Kong dollars per share represents a discount of approximately 16.8% to the closing price of 7.33 Hong Kong dollars per share on the last trading day on the Stock Exchange. Assuming all the sale shares are fully placed, the sale shares will represent approximately 4.95% of the existing issued share capital as of the date of this announcement, and approximately 4.71% of the enlarged issued share capital after the subscription deadline. The estimated total proceeds and net proceeds are approximately 11.7 billion Hong Kong dollars and approximately 11.5 billion Hong Kong dollars, respectively.