Hongwei Asia (08191) plans to discount about 22.41% and place up to 150 million shares to raise about HK$12.83 million

According to Zhitong Finance App, Hongwei Asia (08191) announced that on November 3, 2026, the company plans to place up to 150 million shares to be placed, which is equivalent to about 42.37% of the company's current issued share capital at the date of this announcement; and approximately 29.76% of the issued share capital which was expanded by allocating and issuing the maximum number of shares placed immediately after the placement was completed. The placement price of HK$0.09 per share was approximately 22.41% off the closing price of HK$0.116 on November 3.

Assuming that the placement agent successfully places all of the placed shares, the maximum amount of proceeds from the placement is estimated to be about HK$13.5 million, and the maximum net proceeds from the placement is estimated to be about HK$12.83 million. The Company intends to use net proceeds: (i) approximately HK$5.05 million (accounting for approximately 39.34% of net proceeds) to repay Group bank loans; (ii) approximately HK$4.83 million (accounting for approximately 37.66% of net proceeds) to repay other Group loans (including outstanding amounts under financial lease arrangements); (iii) approximately HK$1.84 million (accounting for approximately 14.34% of net proceeds) to settle the Group's overdue payables; (iv) the remaining approximately HK$1.11 million (accounting for approximately 8.Net Proceeds) 66%) for the Group's general working capital.