DA SEN HLDGS (01580) has announced that on September 18, 2026 (after trading hours on the Stock Exchange of Hong Kong), the company entered into a placement agreement with a placing agent. Under the agreement, the placing agent (acting as the company's agent) conditionally agreed, on a best-effort basis, to procure no fewer than six placees to subscribe for a total of 219 million placing shares at a placing price of HK$0.241 per placing share.
Assuming no change in the company's issued share capital from the date of this announcement to the completion date, the maximum of 219 million placing shares represents approximately 20.00% of the company's existing total issued shares as of the announcement date; and approximately 16.67% of the total issued shares as enlarged by the allotment and issuance of all placing shares. The placing price of HK$0.241 per placing share represents a discount of approximately 19.7% to the closing price of HK$0.300 per share quoted on the Stock Exchange on September 18, 2026 (the date of the placement agreement).
Assuming all placing shares are fully subscribed, the total gross proceeds from the placement are expected to be approximately HK$52.8 million. After deducting the placing commission and other related expenses (including, among others, professional fees) for the placement, the net proceeds from the placement are expected to be approximately HK$52.2 million, equivalent to a net issue price of approximately HK$0.238 per placing share.
The company intends to use the net proceeds from the placement as follows: (i) HK$23 million for repayment of the group's existing debts; and (ii) the balance of the net proceeds as general working capital and for the development of existing businesses.
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