Kingboard Holdings (00148) has announced that on March 18, 2026 (before the trading session), the company entered into a block trade agreement with a placing agent. Under this agreement, the company will sell up to 130 million shares of KB Laminates (01888) to placees on a best-efforts basis through the placing agent. The sale price is set at HK$21.00 per share, which represents an approximate 8.7% discount to the closing price of KB Laminates shares on the Hong Kong Stock Exchange on March 17, 2026, which was HK$23.00 per share. The shares being sold constitute about 4.15% of the total issued share capital of KB Laminates as of the date of this announcement.
Following the completion of the sale and assuming all shares are successfully placed, Kingboard Holdings' direct and indirect ownership of KB Laminates' issued share capital will decrease from approximately 71.10% to about 66.95%. As a result, KB Laminates will remain a subsidiary of Kingboard Holdings, and its financial results will continue to be consolidated into the group's financial statements.
After deducting related transaction costs and expenses, the net proceeds from the sale are estimated to be approximately HK$2.72 billion. These funds are intended to be used as general working capital for the Kingboard Holdings group. The transaction is expected to enhance the group's overall liquidity position, providing additional financial resources to support its ongoing operations and future development.
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