SFQ GLOBAL (01953) has finalised its share placement, issuing 215.00 million new shares at HK$0.97 each on 29 October 2026. The transaction, conducted under the company’s general mandate, increases issued share capital by approximately 14.58%, taking the total share count to 1.48 billion.
Net proceeds amount to HK$208.30 million and are earmarked as follows:
• Working capital for new-energy power-station EPC projects: HK$195.00 million (93.6%), of which HK$115.00 million is reserved for a recently awarded solar photovoltaic and energy-storage contract and HK$80.00 million for pipeline projects in Southeast Asia and Africa. Management expects full deployment by end-June 2027.
• Market expansion in Southeast Asia and Africa: HK$5.00 million (2.4%) for establishing subsidiaries, office setups, local hiring, and professional services, targeted for completion by year-end 2027.
• General working capital: HK$8.30 million (4.0%) to cover day-to-day operating expenses through 2027.
The placement attracted at least six independent investors; none became substantial shareholders. Post-transaction, controlling shareholder Aureole Halo Limited’s stake fell to 64.07% from 75.00%, while new placees now hold 14.58%. Public shareholders retain 21.36%.
Unused proceeds will be kept in short-term, interest-bearing accounts until deployment. The board has indicated flexibility to adjust allocations in response to project progress and market conditions, without altering the overall use of funds.
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