Pagoda GP (02411) plans to issue a total of 279.5 million shares for sale, with net proceeds of approximately HK$325 million.

PAGODA GP (02411) announcement, on September 19, 2025, the company entered into a placement agreement with the placing agent. The company has agreed to issue, and the placing agent has agreed to act as the company's agent, to use their best efforts to encourage subscribers to subscribe for a total of 279.5 million shares of placement shares at a placement price of HK$1.17 per H-share. However, this is subject to the terms and conditions of the placement agreement. Upon completion, the total of 279.5 million shares of placement shares will represent approximately 16.1% of the total number of expanded H-shares, and approximately 15.4% of the total number of expanded shares. The placement price of HK$1.17 per H-share represents a discount of approximately 19.31% compared to the closing price of H-shares on the Stock Exchange on September 19, 2025. Assuming that the placing agent issues and fully places a total of 279.5 million shares of placement shares, the total amount raised from the placement is estimated to be approximately HK$327 million, with a net amount of approximately HK$325 million. The company plans to use the net proceeds as follows: approximately 61.5% will be used to pay trade payables in the normal course of business; approximately 30.8% will be used to repay the company's bank loans; and approximately 7.7% will be used for general operating expenses and administrative expenses of the Group.