MEXAN (00022) saw its shares rise nearly 14% during morning trading. As of the time of writing, the stock was up 13.73%, trading at HK$0.29 with a turnover of HK$1.741 million. The surge follows an announcement made by MEXAN on April 10, stating that its controlling shareholder, Winland Wealth (BVI) Limited, had completed the placement of its entire stake. According to the board's notification from the seller, the placement involved all 1.327 billion shares held by the shareholder, representing approximately 67.47% of the company's issued share capital and equivalent to the shareholder's entire stake prior to completion. These shares were successfully allocated to no fewer than six placees by the placing agent under the placement agreement. All placed shares were settled on April 9, 2026. The placing agent confirmed that each placee has verified their independence from the seller, the company, and any parties acting in concert with them, with no affiliations or coordinated actions. Under the terms of the placement agreement, no placee—individually or collectively with any concert parties—may hold 30% or more of the company’s total issued share capital following the completion of the placement.
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