CONANT OPTICAL (02276) plans to offer a discount of approximately 11.1% for the sale of 27 million shares, raising approximately HK$1.4 billion.

CONANT OPTICAL (02276) announced on January 27, 2026 (before the trading session) that the company has entered into a placement agreement with the placing agents (namely HAITONG INT'L and Huatai International), whereby the placing agents (acting as agents of the company) have conditionally agreed to procure not less than 6 placees to subscribe for 27 million shares at a placement price of HK$52.00 per share. The placement shares represent approximately 5.63% of the issued share capital as of the date of this announcement. The placement price of HK$52.00 per share represents a discount of approximately 11.1% compared to the closing price of HK$58.50 per share on January 26. Assuming all placement shares are successfully placed, it is expected that the total proceeds from the placement will be approximately HK$1.404 billion, with an expected net proceeds of approximately HK$1.4 billion. The company expects to utilize the net proceeds as follows: (i) approximately 40% will be used to construct XR production lines and purchase measurement and testing equipment to advance potential commercialization projects in the future. (ii) approximately 20% will be used to enhance research and development capabilities and establish a precision optical supporting center for XR smart glasses business. (iii) approximately 20% will be used to expand XR-related production capacity and intelligent manufacturing capabilities at the company's factory in Thailand. (iv) approximately 20% will be used for general working capital to optimize the company's capital structure and provide reserve funds for potential mergers and acquisitions to strengthen the company's leadership position in the industry.