COCOON HOLDINGS (00428) proposes to place up to 30.8516 million shares at a discount of approximately 19.27%, raising net proceeds of approximately HK$4.7 million.

COCOON HOLDINGS (00428) announces that on 12 October 2026 (after trading hours), the Company entered into a placing agreement with the placing agent, pursuant to which the Company has appointed the placing agent to procure, on a best-effort basis, placees to subscribe for up to 30,851,600 placing shares at a price of HK$0.155 per placing share. The maximum number of 30,851,600 placing shares represents: (i) approximately 20.00% of the existing issued share capital of the Company as at the date of this announcement; and (ii) approximately 16.67% of the issued share capital of the Company as enlarged by the allotment and issue of the placing shares (assuming there is no other change in the issued share capital of the Company during the period from the date of this announcement to the completion of the placing). The maximum aggregate nominal value of the placing shares under the placing will be HK$308,500. Assuming the maximum number of placing shares is placed, the gross proceeds from the placing will be approximately HK$4.8 million, and the net proceeds from the placing will be approximately HK$4.7 million. Of the net proceeds from the placing, approximately HK$3.7 million in aggregate is intended to be used for investment in listed and/or unlisted securities, while the remaining approximately HK$1.0 million will be used as general working capital of the Group. The placing price of HK$0.155 per placing share was determined after arm's length negotiations between the Company and the placing agent on a fair basis. The placing price represents a discount of approximately 19.27% to the closing price of HK$0.192 per share as quoted on the Stock Exchange on 12 October 2026 (being the date of the placing agreement).