LINGBAO GOLD (03330) plans to first sell 29.816 million H shares in the old stock market and raise a net amount of HKD 770.6 million.

LINGBAO GOLD (03330) announced that on April 14, 2026 (before trading hours), the seller, the company, and the placing agents entered into a placing and subscription agreement. The seller agreed to appoint the placing agents as agents, and the placing agents agreed to use best efforts to procure the buyers to purchase the placing shares (i.e. 29.816 million H shares at a placing price of HK$26.16 per share); the seller also agreed to subscribe at the subscription price (the same as the placing price), and the company agreed to allot and issue the subscription shares to the seller at the subscription price (i.e. 29.816 million H shares, the same number as the placing shares). The placing shares represent approximately 2.55% of the existing issued H shares and approximately 2.20% of the existing issued shares as of the date of this announcement, and approximately 2.48% of the existing issued H shares and approximately 2.16% of the existing issued shares after the allotment and issue of the subscription shares (assuming no change in the number of issued shares of the company from the date of this announcement until the completion of the subscription). The placing price of HK$26.16 per share for the placing shares represents a discount of approximately 4.53% to the closing market price of H shares of HK$27.40 per share on the date of the placing and subscription agreement on the Stock Exchange. The total and net proceeds from the subscription are expected to be approximately HK$780 million and HK$770.6 million respectively. Based on this, the net issue price of the placing shares is approximately HK$25.85 per share. The company intends to use the net proceeds for the acquisition and development of high-quality overseas gold mining assets, exploration and expansion of mineral resources, and general working capital. The directors have considered various fundraising methods and believe that the placing and subscription will help the company raise funds while expanding its shareholder and capital base. The directors believe that the placing will reduce the overall bank borrowings of the group and strengthen the financial position of the group.