RONGZUN INT'L H (01780) Completes Private Placement of 372 Million Shares by Controlling Shareholder

Stock News10-28

RONGZUN INT'L H (01780) announced that the Board was informed by Dr. Jin Zibo that, under the terms of the placement agreement, all 372 million placement shares (representing 60% of the company's total issued share capital as of the announcement date) have been successfully placed by the placing agent to 12 placees at HK$0.446 per share. The settlement of the placement shares under this private placement was completed on October 28, 2025.

According to the placing agent, each placee has confirmed its independence from and non-affiliation with the company. A key condition of the placement agreement stipulates that no single placee (together with persons acting in concert) may hold 30% or more of the company's total issued share capital immediately after the private placement, thereby avoiding any obligation to make a mandatory general offer under Rule 26.1 of the Takeovers Code.

Following completion, Mr. Yanase Kenichi and Dr. Jin Zibo hold 93 million shares through the vendor, representing 15% of the company's total issued share capital. Consequently, Mr. Yanase Kenichi, Dr. Jin Zibo, and the vendor are no longer the company's controlling shareholders as defined under the Listing Rules.

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