Yangtze Optical Fibre And Cable Joint Stock Limited Company (601869.SH) announced that it will issue new H shares under a general mandate. On December 9, 2025, the company entered into a placement agreement with placing agents to issue 70 million new H shares with a par value of RMB 1 per share, subject to the terms and conditions of the agreement.
Upon full issuance, the placement shares will represent approximately 19.91% of the company's total issued H shares and about 9.24% of its total issued share capital as of the announcement date. Post-issuance, they will account for roughly 16.60% of the enlarged H share capital and 8.46% of the total enlarged share capital.
The total par value of the placement shares is approximately RMB 70 million (equivalent to about HK$76.94 million based on the exchange rate of HK$1 to RMB 0.9098 as of December 9, 2025). The company agreed to issue the shares at a placement price of HK$32.26 per share, with the placing agents acting on a best-efforts basis to secure subscribers at this price.
After deducting fees, commissions, and expenses, the net proceeds from the placement are expected to be around HK$2.229 billion, with a net price of approximately HK$31.85 per share. The company intends to use the net proceeds for the development of its overseas business and general working capital purposes.
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