CONGYU INTE AGR(00875) plans to discount approximately 18.64% in the placement of up to 140 million shares, raising approximately 32.9 million Hong Kong dollars.

CONGYU INTE AGR (00875) announced that on August 17, 2026 (after trading hours on the Stock Exchange), the company entered into a placement agreement with the placing agent, whereby the company conditionally agreed to place a maximum of 140 million placement shares at a placement price of HK$0.24 per share to not less than six subscribers (who and their ultimate beneficial owners must be independent third parties) through the placing agent on a best-efforts basis. The placement shares will be issued under the general authority granted to the directors at the shareholders' annual general meeting. The issuance of the placement shares does not require shareholder approval. The placement shares represent (i) approximately 20% of the total existing issued shares as of the date of this announcement; and (ii) assuming that the issued capital of the company remains unchanged from the date of this announcement until the completion date of the placement, approximately 16.7% of the enlarged total issued shares after all placement shares have been allotted and issued. The maximum nominal value of the placement shares under the placement will be approximately HK$1,398,100. The placement price of HK$0.24 per placement share represents a discount of approximately 18.64% to the closing price of HK$0.295 per share as reported on the Stock Exchange on the date of the placement agreement. Assuming that all placement shares are successfully placed by the placing agent, the estimated total gross proceeds from the placement will be approximately HK$33.6 million, and after deducting the placing commission, professional fees, and all related expenses that the company may incur, the estimated net proceeds from the placement will be approximately HK$32.9 million. The company intends to use approximately HK$30 million of the net proceeds from the placement to repay loans; and approximately HK$2.9 million for general working capital of the Group.