XXF (02473) plans to discount by approximately 16%, with a total of approximately 155 million shares to be issued first to the old shareholders before offering new shares. The net proceeds are expected to be around 151 million Hong Kong dollars.

XXF (02473) announced that on April 13, 2026 (after trading hours), the company has entered into a placing and subscription agreement. The total amount expected to be raised through the placing and subscription agreement for the first old and then new subscription is estimated to be approximately 152 million Hong Kong dollars, with net proceeds of about 151 million Hong Kong dollars. 50% of the proceeds will be used by the group to purchase motor vehicles related to its main business, and 50% will be used as general operating funds to supplement the operations of the group's subsidiary companies for general corporate purposes. Pearl Capital Resources Limited, the seller, intends to sell approximately 155 million existing shares through the placing agent, representing approximately 10.00% of the company's issued share capital on the date of this announcement. The placing price per share is 0.98 Hong Kong dollars, representing a discount of approximately 16% to the closing market price of 1.16 Hong Kong dollars per share on the last trading day on the Stock Exchange of Hong Kong. The company will also issue approximately 155 million new shares to the seller at a price of 0.98 Hong Kong dollars per share.