Gaodi Holdings: 1-for-2 Rights Issue Records 16.99% Subscription; 109.20 Million Unsubscribed Shares to Be Placed on Best-Effort Basis

Bulletin Express07-22

Gaodi Holdings Limited reported that its ongoing 1-for-2 rights issue at HK$0.19 per share received 3 valid acceptances for 22.35 million Rights Shares as of the 10 July 2026 deadline, representing 16.99% of the 131.55 million shares on offer. Consequently, 109.20 million shares (83.01% of the issue) remain unsubscribed.

In line with Listing Rule 7.21(1)(b), the company has mandated a placing agent to dispose of the 109.20 million Unsubscribed Rights Shares through a best-effort placing window from 24 to 30 July 2026. Any premium above the aggregate of the subscription proceeds and related placing expenses will be returned to shareholders who did not take up their entitlements, subject to a HK$100 threshold.

The rights issue is not underwritten. Should any Unsubscribed Rights Shares remain unplaced after the designated period, the overall size of the rights issue will be reduced accordingly.

Gaodi Holdings reiterated that completion of the offering remains conditional on the Stock Exchange granting listing approval for the nil-paid and fully-paid Rights Shares. An update on the final placing outcome is scheduled for 3 August 2026. Shareholders and investors are advised to exercise caution when dealing in the company’s shares until all conditions are satisfied.

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