McFTSE (02556) plans to issue 9.832,800 subscription shares to raise approximately HK$499.7 million

According to the Zhitong Finance App, Maxfos (02556) issued an announcement. On September 17, 2026, the Company entered into a subscription agreement with the subscriber. According to this, the Company conditionally agreed to allocate and issue, while the subscriber conditionally agreed to subscribe for 9.838 million shares at a subscription price of HK$50.85 per share.

The subscription price of HK$50.85 per share is compared to: (i) an amount equal to the closing price of approximately HK$50.85 per share as shown in the Stock Exchange's daily quotation sheet on September 17, 2026 (the date of the subscription agreement); and (ii) the average closing price discount of approximately HK$52.36 per share as shown in the Stock Exchange's daily quotation sheet for the five trading days immediately prior to the subscription agreement date.

The subscribers will subscribe for 9.832,800 shares, which is equivalent to (i) approximately 3.67% of the number of shares issued by the Company (excluding treasury shares) on the date of this announcement, and (ii) approximately 3.54% of the number of issued shares of the Company (excluding treasury shares) after allotment and issuance of subscribed shares (assuming that there is no change in the total number of shares issued by the Company other than the allocation and issuance of subscribed shares).

The total proceeds from the subscription will be approximately HK$500 million, while the net proceeds from the subscription process (after deducting all applicable costs and expenses) will be approximately HK$499.7 million. After deducting all applicable costs and expenses, the net price of each share subject to subscription will be approximately HK$50.82.

The Group plans to use 100% of the net proceeds from the subscription for full-stack token factory expansion and optimization, including: domestic or overseas computing power infrastructure construction, such as self-building or leasing AIDC, purchasing GPU servers and supporting equipment, and computing power cluster networking; developing and deploying intelligent computing-related software such as various AI models and model management platforms for the Group's various AI applications; and inference optimization capacity building, such as inference engine iteration, operator optimization, multi-model scheduling framework upgrades and post-draping model training, with the aim of reducing unit token costs and improving response efficiency. Further improve the input-output ratio of AI applications.

Based on its current estimates of future market conditions and business plans, the Group will prudently use the net proceeds from the subscription process over the next 12 months, and is expected to fully utilize the net proceeds from the subscription process by the end of September 2027. If the net proceeds are not immediately used for the purposes described above, the Group will deposit such net proceeds into short-term interest-bearing accounts with licensed commercial banks and/or other authorized financial institutions as defined in the Securities and Futures Regulations. The expected schedule for using all net proceeds is based on the Company's current best estimates of future market conditions and business operations, and may change due to future market developments and actual business needs.