SFQ GLOBAL (01953) proposes to place 215 million placing shares at a discount of approximately 18.58%, raising net proceeds of approximately HK$208 million

SFQ GLOBAL (01953) announces that on October 21, 2026 (after trading hours), the Company and the placing agent entered into a placing agreement pursuant to which the Company agreed to appoint the placing agent, and the placing agent agreed to act as agent of the Company, to use its best efforts to procure not fewer than six placees to subscribe, on the terms of and subject to the conditions of the placing agreement, for up to 215 million placing shares at a placing price of HK$0.973 per share. Assuming no change in the issued share capital of the Company from the date of this announcement up to the completion of the placing, the maximum number of placing shares represents approximately 17.06% of the existing issued share capital of the Company and approximately 14.58% of the issued share capital of the Company as enlarged by the allotment and issue of the maximum number of placing shares. The placing price of HK$0.973 per placing share represents a discount of approximately 18.58% to (i) the closing price of HK$1.195 per share as quoted on the Stock Exchange on the last trading day of the shares. The maximum gross proceeds and net proceeds from the placing (after deducting placing commission, professional fees and all related expenses) are approximately HK$209 million and HK$208 million, respectively. The Company intends to apply the net proceeds from the placing for (i) project working capital for the construction contracting of new energy power stations; (ii) business expansion in Southeast Asia and Africa; and (iii) general working capital.