CN INT DEV CORP (00264) completed the placement of a total of 12.916 million shares, raising approximately HK$27.14 million.

CN INT DEV CORP (00264) announces that all conditions stipulated in the placement agreement have been met, and the placement was completed on January 27, 2026 (Placement Completion). A total of 12.916 million shares were placed (equivalent to approximately 2.80% of the company's existing issued share capital of 462 million shares before the placement; and approximately 2.72% of the company's issued share capital after the placement). The shares were successfully placed at a price of HK$2.16 per share to no less than six placing agents in accordance with the terms of the placement agreement. After deducting placement commission and all relevant expenses, the net issue price per share is approximately HK$2.101. As not all the placement shares were fully placed, the total amount raised from the placement is approximately HK$27.9 million, with a net amount after deducting placement commission and all relevant expenses of approximately HK$27.14 million. The funds will be used to enhance general working capital and strengthen the group's financial position. Approximately HK$11.6 million (approximately 42.74% of the net proceeds from the placement) will be used to purchase materials, equipment, and expenses related to leather manufacturing and/or leather and automotive engine extension cleaning services, as well as other trading businesses; approximately HK$9.04 million (approximately 33.31% of the net proceeds from the placement) will be used for general working capital, including (but not limited to) rent, employee costs, professional fees, and other general administrative and operational expenses; and approximately HK$6.5 million (approximately 23.95% of the net proceeds from the placement) will be used to repay outstanding debts.