CHINA UPTOWN (02330) plans to issue up to 90.568 million placement shares at a discount of approximately 5.45%.

CHINA UPTOWN (02330) announced that on August 4, 2026 (after trading hours), the company entered into a placement agreement with the placing agent, who conditionally agreed to use its best efforts to procure not less than six placees (who and their ultimate beneficial owners must be independent third parties) to subscribe for a maximum of 90,568,000 placement shares at a placement price of HKD 0.26 per share. Assuming no changes in the company's issued share capital from the date of this announcement until completion, the maximum number of placement shares of 90,568,000 shares represents approximately 20% of the company's existing issued share capital as of the date of this announcement and approximately 16.67% of the company's issued share capital expanded after the allotment and issuance of all placement shares. The placement price of HKD 0.26 per placement share reflects a discount of about 5.45% to the closing price of HKD 0.275 per share reported on the Stock Exchange on the date of the placement agreement. Assuming all placement shares are fully placed, the total proceeds from the placement are expected to be approximately HKD 23.55 million, with the net proceeds expected to be approximately HKD 23.23 million, equivalent to a net issue price of approximately HKD 0.2565 per placement share. The directors intend to use HKD 10 million of the net proceeds to repay outstanding debts, while the remaining net proceeds of HKD 13.23 million will be used for the groups general working capital, including staff costs, professional fees, lease payments, and general administrative and operational expenses.