China Baoli Technology (00164) intends to discount approximately 1.23% of the total issued shares of 38.44 million shares, with a net raising of about HK$12.5 million.

CHINA BAOLI TEC (00164) announced that on March 30, 2026, the company plans to issue a total of 38.44 million subscription shares to twelve subscribers, representing approximately 13.21% of the total number of issued shares on the date of the subscription agreement; and approximately 11.67% of the total number of issued shares after the issuance of the subscription shares. The subscription price is HK$0.40 per share, with a discount of approximately 1.23% compared to the closing price of HK$0.405 per share on March 30. The total proceeds from the subscription will be HK$153.76 million, with an estimated net amount of approximately HK$125 million. The group plans to use the net proceeds from the subscription for the general operating funds of the dry milling and dry selection project in Mongolia, including (i) approximately HK$6.5 million for the manufacturing of machinery and equipment required for the project operation; (ii) approximately HK$2 million for professional testing and analysis of iron ore; (iii) approximately HK$1 million for employee costs of project technology and support staff; (iv) approximately HK$1 million for logistics and transportation expenses for equipment and material delivery; (v) approximately HK$2 million for the costs of developing dry milling and dry selection technology and various project-related management expenses.