HK Stock Market Move | SFQ GLOBAL (01953) surged over 10% in morning trading, plans discounted share placement to raise net proceeds of approximately HK$208 million, intended for business expansion in Southeast Asia and Africa.

SFQ GLOBAL (01953) rose over 10% in morning trading, up 10.29% as of press time to HK$1.34, with turnover of HK$2.5915 million. On the news front, on October 21, SFQ GLOBAL issued an announcement that the Company and the placing agent entered into a placing agreement on October 21, 2026 (after trading hours), pursuant to which the Company agreed to appoint the placing agent, and the placing agent has agreed to act as agent of the Company to use its best efforts to procure no 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. The placing price of HK$0.973 per placing share represents a discount of approximately 18.58% to the closing price of HK$1.195 per share as quoted on the Stock Exchange on the last trading day of the relevant shares. The announcement stated that 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 use the net proceeds from the placing for working capital for new energy power station construction contracting projects; business expansion in Southeast Asia and Africa; and general working capital.