Sundart Holdings Plans Placement of Up to 22 Million Shares at Approximately 10.81% Discount

Sundart Holdings (01568) announced that on May 5, 2026, it entered into a placement agreement with a placing agent. The placing agent intends to procure at least six placees to subscribe for the placement shares. Assuming no change in the issued shares from the announcement date to the completion date, the maximum number of placement shares under the placement is 22 million shares, representing approximately 1.01% of the total issued share capital as enlarged by the allotment and issue of the placement shares. The placing price for each placement share is HK$0.66, representing a discount of approximately 10.81% to the closing price of HK$0.74 per share on the date of the placement agreement as quoted on the Stock Exchange. Assuming the placement shares are fully subscribed, the gross proceeds from the placement are expected to be approximately HK$14.5 million, while the net proceeds are estimated to be approximately HK$14.2 million. The estimated net price for each placement share is approximately HK$0.643. The company intends to use the net proceeds from the placement for the group's general working capital purposes.