Gaokeqiao (09963) plans to discount about 11.85% and place up to 52 million shares to raise about HK$24.4 million

According to Zhitong Finance App News, Gaokeqiao (09963) announced that on December 17, 2025, the Company entered into a placement agreement with the Joint Placing Agent. According to this, the Company conditionally agreed to place up to 52 million shares to no less than 6 undertakers (they and their beneficial owners must be independent third parties) at an placement price of HK$0.476 per share on a wholehearted basis through the joint placement agent.

Placed shares are equivalent to approximately 20.00% of the total number of issued shares at the date of this announcement, and the total number of issued shares was expanded to approximately 16.67% after the placement was completed (assuming that there is no change in the total number of issued shares other than the number of shares issued by the Company from the date of this announcement to the completion of the placement). The placement price was discounted by approximately 11.85% from the closing price of HK$0.54 per share as reported on the Stock Exchange on December 17, 2025.

Assuming that all of the placed shares are fully placed, the total proceeds from the placement are expected to be approximately HK$24.8 million, while the net proceeds (after deducting placement commissions and other placement expenses) will be approximately HK$24.4 million. Based on this calculation, the net price of each placed share would be approximately HK$0.469. The Company intends to use (i) 32.8% of the net proceeds to repay bank and other loans and (ii) 67.2% of the net proceeds for general working capital.