ASIARAY (01993) intends to issue perpetual subordinated convertible securities with a principal amount of HK$40 million.

ASIARAY (01993) announces that on November 2, 2026, the Company entered into a subscription agreement with the subscriber, Space Management Limited, pursuant to which the subscriber has conditionally agreed to subscribe, and the Company has conditionally agreed to issue, perpetual subordinated convertible securities with a principal amount of HK$40 million, which are convertible into conversion shares at an initial conversion price of HK$0.455 per conversion share (subject to adjustment). Assuming the conversion rights attached to the perpetual subordinated convertible securities are fully exercised at the initial conversion price, the Company will issue a total of 87.912 million conversion shares, representing approximately 18.13% of the Company's existing issued share capital and approximately 15.35% of the Company's issued share capital as enlarged by the conversion. The net proceeds from the issuance of the perpetual subordinated convertible securities will be approximately HK$39.7 million, intended to be used as general working capital of the Group.