MOMENTUM FIN (01152) plans to discount approximately 20% for the maximum of 104 million shares to be issued, raising approximately HK$20.5 million net.

MOMENTUM FIN (01152) announced that, on May 22, 2026 (after trading hours), a placing agent entered into a placing agreement with the company. Under this agreement, the placing agent has conditionally agreed (as agent for the company) to use its best efforts to procure no less than six placees (each of which and its ultimate beneficial owner are independent third parties) to subscribe for up to 104 million placing shares at a placing price of HK$0.20 per share. The placing shares will be allotted and issued pursuant to the general mandate granted to the directors at the extraordinary general meeting of the company held on November 10, 2025. The maximum number of placing shares of 104 million shares represents (i) approximately 3.14% of the company's existing issued share capital; and (ii) approximately 3.04% of the company's enlarged issued share capital after the issue of the placing shares. The placing price of HK$0.20 per share represents a discount of approximately 20% to (i) the closing market price of the shares on the Stock Exchange on May 22, 2026 (i.e. the date of the placing agreement) of HK$0.250 per share; and (ii) approximately 18.63% to the average closing market price of the shares on the Stock Exchange for the last five trading days immediately preceding the date of the placing agreement of HK$0.246 per share. Assuming all placing shares are fully allotted, the total proceeds from the placing would be approximately HK$20.9 million, with net proceeds of approximately HK$20.5 million. Based on this, the net price per placing share to the company is approximately HK$0.1967. The company intends to use the net proceeds for (i) cross-border e-commerce business; (ii) research and development and operating expenses of AI and Web3 infrastructure-driven electronic wallet payment solutions; and (iii) general working capital.