Minieye Technology Co., Ltd (Stock Code: 2431) has announced the entering of a Placing Agreement on November 26, 2025. Under this agreement, up to 14,012,800 new H Shares will be placed with institutional and corporate professional investors. The Placing Price is HK$14.88 per share.
According to the announcement, the Placing Shares represent approximately 3.45% of the current issued share capital (406,746,400 shares, excluding treasury shares) and about 3.33% of the enlarged share capital (420,759,200 shares, excluding treasury shares). The placing price is set at a 9.98% discount to the November 25, 2025 closing price of HK$16.53 per share and a 13.99% discount to the average closing price of approximately HK$17.30 per share over the five consecutive trading days leading up to November 24, 2025.
If fully placed, the total gross proceeds from the transaction are estimated at HK$208.51 million, with approximately HK$204.43 million in net proceeds after deductions. These funds are intended primarily for business development related to L4 unmanned logistics vehicles and for foundational research and development platform upgrades.
The new H Shares will be issued under a General Mandate that allows the Board to issue up to 20% of the Company's issued shares. Allotment and issuance of the Placing Shares are subject to conditions in the agreement, including Stock Exchange approval for listing and related regulatory filings. The placing and completion may or may not proceed, depending on satisfaction of these conditions. The Company has stated that upon completion of the Placing, the public float will continue to meet the requirements of the Listing Rules.
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