CORNERSTONE TEC (08391) completes the issuance of a total of 19.2 million subscription shares.

CORNERSTONE TEC (08391) announced that all conditions of the subscription agreement were reached on November 17, 2025, and the subscription matter was completed on November 18, 2025. A total of 19.2 million subscription shares were issued and allotted to the subscriber at a subscription price of HK$0.57 per share, representing approximately 1.87% of the enlarged issued share capital of the company following the completion. The total proceeds of HK$10.94 million will be used for capital expenditures for developing electric vehicle charging stations under Cornerstone Go. The company plans to allocate approximately 40% of the proceeds from the subscription matter towards purchasing electric vehicle charging hardware and power equipment and components, and approximately 60% towards the installation and engineering of electric vehicle charging stations.