DRINDA (02865) surged nearly 6%, and as of the time of writing, was up 5.22% to HK$23.4, with a turnover of HK$38.6409 million. The company announced that on January 21, 2026, it entered into a placement agreement with a placing agent, who conditionally agreed to use its best efforts to procure no fewer than six placees to subscribe for a maximum of 18.682 million placement shares in total. The placing price was set at HK$22.00 per share, representing a discount of approximately 1.08% to the closing price of HK$22.24 per H share on the Stock Exchange on January 21, 2026. Assuming the full placement of shares, the placement shares will account for approximately 22.75% of the existing issued H shares as enlarged by the issuance, and approximately 6.04% of the total existing issued share capital. Should all placement shares be successfully subscribed, the estimated gross proceeds from the placement are expected to be approximately HK$411 million, with net proceeds estimated at around HK$398 million after deducting related fees, costs, and expenses; the estimated net placing price is approximately HK$21.29 per share. The net proceeds from the placement are intended to be allocated as follows: approximately 45% will be used for the research, development, and production of space photovoltaic battery-related products; approximately 45% will be allocated for equity investments and cooperation within the commercial aerospace sector; and approximately 10% will be used to supplement the company's working capital.
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