Ruihe Data Technology Holdings Limited has signed a placing agreement with Theia Securities after market close on 30 July 2026 to issue up to 44.96 million new shares—equivalent to 5.00% of its existing share capital and 4.76% of the enlarged base—under its unused general mandate of 179.84 million shares.
The shares will be placed to at least six independent investors at HK$2.03 each, representing a 10.96% discount to the 30 July closing price of HK$2.28 and a 1.74% discount to the five-day average of HK$2.066. Gross proceeds are expected to reach HK$91.27 million, with net proceeds of roughly HK$90.76 million after a HK$0.20 million placing fee and other expenses, implying a net price of HK$2.019 per share.
Management plans to allocate 75% of the net funds (about HK$68.07 million) to repay short-term bank and other borrowings totaling HK$174.11 million as of 30 June 2026. A further 15% (approximately HK$13.61 million) will bolster working capital—covering staff costs (HK$6.13 million), R&D and operating expenses (HK$5.45 million), and interest payments (HK$2.04 million). The remaining 10% (around HK$9.08 million) is reserved for future strategic investments aligned with core business activities.
Post-placement, Ruihe Data’s issued shares will rise from 899.20 million to 944.16 million. The new placees will collectively own 4.76%, while the largest existing shareholder, Treasure Tree Asia Holdings, will see its stake diluted from 11.57% to 11.02%. The shares allotted to placees are subject to an 18-month lock-up.
Theia Securities, controlled 70% by Ruihe executive director Mr. Sun Dexin, acts as placing agent, making the HK$0.20 million fee a connected transaction under Hong Kong’s Listing Rules; however, the amount falls below the HK$3 million de-minimis threshold, rendering it exempt from shareholder approval. Completion remains conditional on Stock Exchange approval for listing the new shares by 13 August 2026; failure to secure approval will terminate the deal.
This placement follows a February 2026 fundraising in which Ruihe raised HK$84.29 million. As of 30 June 2026, HK$10.44 million of those proceeds remained unutilised. The company says the current exercise aims to strengthen its balance sheet, enhance liquidity, and expand its shareholder base while supporting future growth initiatives. Shareholders and investors are advised to note that the transaction may not proceed if conditions are not met.
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