CHINAHONGQIAO (01378) plans to sell 400 million shares in the old-and-new placement, netting approximately HK$11.49 billion.

CHINAHONGQIAO (01378) announced that on November 17, 2025, Hongqiao Holdings (the controlling shareholder of the company), the company, and the placing agent entered into a placing and subscription agreement. According to the placing and subscription agreement, the placing agent conditionally agreed to place the shares held by Hongqiao Holdings to the independent placing person at the best efforts basis at the placing price, and Hongqiao Holdings conditionally agreed to subscribe while the company conditionally agreed to issue and distribute the subscribed shares to Hongqiao Holdings at the subscription price (which is the same as the placing price), subject to the terms and conditions set out in the placing and subscription agreement. The placing price per share of 29.20 Hong Kong dollars represents a discount of approximately 9.60% from the closing market price of 32.30 Hong Kong dollars per share on November 17, 2025 (the date of the placing and subscription agreement). Assuming that the company issues and distributes 4 billion shares under the subscription arrangement and Hongqiao Holdings subscribes to them, the net proceeds received by the company from the subscription arrangement will be approximately 11.49 billion Hong Kong dollars. The company intends to use the net proceeds for the development and enhancement of its domestic and overseas projects, repayment of existing debts to optimize its capital structure, as well as for supplementing working capital and general corporate purposes.