Da Sen Holdings (01580) has announced that on September 18, 2026, after trading hours on the Stock Exchange of Hong Kong, it entered into a placing agreement with a placing agent. Under the terms, the agent has conditionally agreed, on a best-effort basis, to procure no fewer than six placees to subscribe for a total of 232 million placing shares at a price of HK$0.241 per share.
Assuming there is no change in the company's issued share capital between the announcement date and the completion date, the maximum of 232 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 enlarged by the allotment and issuance of all placing shares.
The placing price of HK$0.241 per share represents a discount of approximately 19.7% to the closing price of HK$0.300 per share quoted on the Stock Exchange of Hong Kong on September 18, 2026, the date of the placing 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 placing commissions and other related expenses, including professional fees, the net proceeds are expected to amount to 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 as follows: HK$23 million will be allocated to repay existing debts of the group, and the remaining balance will be utilized for general working capital and the development of existing businesses.
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