HUISHENG INTL (01340) completes issuance of a total of 11 million shares, raising net proceeds of approximately HK$5.1 million.

HUISHENG INTL (01340) announces that all conditions precedent to completion set out in the subscription agreements have been fulfilled, and completion took place on October 22, 2026. A total of 5.5 million subscription shares, representing approximately 3.68% of the company's issued share capital as enlarged by the allotment and issue of the subscription shares, were allotted and issued by the company to Subscriber A at a subscription price of HK$0.48 per subscription share in accordance with the terms and conditions of Subscription Agreement A. In addition, a total of 5.5 million subscription shares (representing approximately 3.68% of the company's issued share capital as enlarged by the allotment and issue of the subscription shares) were also allotted and issued by the company to Subscriber B at a subscription price of HK$0.48 per subscription share in accordance with the terms and conditions of Subscription Agreement B. The gross proceeds and net proceeds from the subscriptions were approximately HK$5.28 million and approximately HK$5.1 million, respectively. The company intends to immediately apply 90% of the net proceeds from the subscriptions to partially repay amounts owed to an independent third party. The remaining 10% of the net proceeds will be used as general working capital of the group to partially fund the company's general administrative expenses in Hong Kong, China, for the next six months, including legal and professional fees, audit fees and retainer fees.