PATEO (02889) plans to issue 895,980 shares of subscription shares and raise approximately HK$113.6 million net.

PATEO (02889) announced on April 27, 2026 (after trading hours) that the company has entered into a subscription agreement with subscriber Sanfeng Holdings Management Limited. Under this agreement, the subscriber conditionally agrees to subscribe, while the company conditionally agrees to issue and allot a total of 895,980 shares of subscription shares at a subscription price of HK$127.35 per share. The number of subscription shares represents approximately 1.18% of the Company's existing issued H shares after the issue and allotment of the subscription shares. The total expected gross proceeds from the subscription are around HK$114.1 million, with expected net proceeds of around HK$113.6 million. Based on this, the estimated net subscription price per share is approximately HK$126.80. The Company plans to allocate the net proceeds from the subscription as follows: around 60% for AI technology applications and product research and development, as well as related business expansion; and around 40% for working capital and general corporate purposes.