PUXING ENERGY (00090) proposes to issue 61.4 million subscription shares at a premium of approximately 1.09%

PUXING ENERGY (00090) announced that on October 30, 2026, the Company entered into a subscription agreement with Puxing International Limited, pursuant to which the Company has conditionally agreed to allot and issue, and the subscriber has conditionally agreed to subscribe for, 61.4 million subscription shares at a subscription price of HK$0.834 per subscription share, for an aggregate consideration of approximately HK$51.21 million. Assuming that, other than as a result of the subscription, there is no change in the issued share capital of the Company from the date of this announcement up to completion, the total of 61.4 million subscription shares to be allotted and issued under the subscription represents approximately 13.39% of the total number of issued shares as at the date of this announcement; and approximately 11.81% of the total number of issued shares as enlarged by the allotment and issue of the subscription shares immediately upon completion. The subscription price of HK$0.834 per subscription share represents a premium of approximately 1.09% over the closing price of HK$0.825 per share as quoted on the Stock Exchange on October 30, 2026 (being the date of the subscription agreement). The gross proceeds from the subscription are approximately HK$51.21 million. After deducting relevant expenses, the net proceeds from the subscription are approximately HK$50.50 million, representing a net subscription price of approximately HK$0.822 per subscription share.