Litian Pictures Holdings Limited entered into a placing agreement with KGI Asia Limited on 10 April 2026 to place up to 68.00 million new shares under its existing general mandate. The shares will be offered to at least six independent placees on a best-efforts basis at HK$0.156 per share, representing a 15.00% discount to the last close of HK$0.183 and a 16.82% discount to the five-day average price of HK$0.187.
The proposed issuance equals 15.74% of the current 432.00 million issued shares and will enlarge the share base to 500.00 million, diluting existing holders to 86.40% of the enlarged capital. Gross proceeds are estimated at HK$10.61 million; after a 0.75% placing commission and related expenses, net proceeds are expected to be about HK$10.33 million, or HK$0.152 per share. Management plans to deploy the funds as general working capital, with full utilisation targeted by December 2026.
Following completion, the largest shareholder, Marshal Investment Co. Ltd., will see its stake fall from 14.90% to 12.87%, while public float—excluding the new placees—will decrease from 74.21% to 64.13%. The new investors will collectively hold 13.60% of the enlarged share capital.
The placement is contingent on Stock Exchange approval for listing and no material breach of representations before completion. The long-stop date for satisfying all conditions is 30 April 2026. Termination rights allow the placing agent to withdraw under adverse market conditions, material breaches, or trading suspensions.
This is the company’s second equity raise within a year. In February 2026, Litian Pictures completed a separate placement that generated HK$14.00 million, fully deployed toward drama-series production costs.
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