PATEO (02889) plans to offer approximately 14.39% discount on the placement of 4.889 million shares, raising about HK$578 million net.

PATEO (02889) announced that on September 8, 2026 (before the trading session), the company entered into a placing agreement with the placing agent, under which the placing agent conditionally and individually agreed to act as the company's placing agent to use its best efforts to procure not less than six (6) placees to subscribe for a maximum of 4.889 million new H shares at a placing price of HKD 120.28 per share. The placing price is HKD 120.28 per share, which represents: (i) a discount of approximately 14.39% to the closing price of HKD 140.50 per share quoted on the Hong Kong Stock Exchange on September 7, 2026 (the last trading day and the date on which the placing price was determined); and (ii) a discount of approximately 19.99% to the average closing price of approximately HKD 150.34 per share quoted on the Hong Kong Stock Exchange over the five (5) consecutive trading days immediately preceding the last trading day (excluding that day). The number of shares being placed represents approximately (i) 5.90% of the existing issued H shares of the company as of the date of this announcement; and (ii) approximately 5.57% of the enlarged issued H shares of the company after the placing shares are allotted and issued (assuming that, other than the allotment and issuance of the placing shares, the issued H shares of the company do not change from the date of this announcement to the date of completion of the placing). The total amount of proceeds from the placing is expected to be approximately HKD 588 million. The net proceeds from the placing are expected to be approximately HKD 578 million (after deducting related fees and expenses of the placing). On this basis, the net price per placing share is approximately HKD 118.30.