Konica Minolta Optics will issue new shares in Hong Kong to raise approximately HK$1.4 billion.

Kanata Optics announced on the Hong Kong Stock Exchange that it will issue a total of 27 million shares at a price of 52 Hong Kong dollars per share. The new shares represent 5.33% of the enlarged share capital; the offer price represents a discount of approximately 11.1% from the closing price of 58.5 Hong Kong dollars on Monday. The total amount raised from the offering is estimated to be around 1.4 billion Hong Kong dollars. Approximately 40% of the proceeds will be used to establish a production line for XR smart glasses and purchase measurement and testing equipment; 20% will be used to enhance R&D capabilities and establish a precision optical center for XR business. Haitong International and Huatai International are the placement agents.