Weimob Cancels Tranche 2B Subscription, Net Proceeds Cut to HK$1.17 Billion

Bulletin Express03-30

Weimob Inc. announced the cancellation of the planned Tranche 2B Subscription after the subscriber failed to identify a designated purchaser at least ten business days before the long-stop date of 12 April 2026.

Following the cancellation, aggregate net proceeds from the company’s multi-tranche share placement fall to approximately HK$1.17 billion from the originally expected HK$1.56 billion. Allocation of funds will be scaled back on a pro-rata basis, while the stated purposes and utilisation timeline disclosed in earlier announcements remain unchanged.

Management stated that the subscriber currently owns less than 5 % of Weimob’s issued shares, ruling out substantial-shareholder status. The board believes the non-completion of Tranche 2B will not materially affect the group’s existing business, operations or financial condition.

The cancellation follows earlier completions of Tranche 1A, Tranche 1B and Tranche 2A subscriptions under the company’s general mandate framework announced between September 2025 and February 2026. Weimob’s chairman and CEO, Sun Taoyong, signed off on the statement dated 30 March 2026.

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