MEXAN Surges Nearly 14% in Morning Session as Controlling Shareholder Completes Full Stake Placement

Deep News04-13

MEXAN (00022) rose over 33% during the morning session. As of the time of writing, the stock was up 25.49%, trading at HK$0.32, with a turnover of HK$11.5132 million.

On April 10, MEXAN announced that the controlling shareholder, Winland Wealth (BVI) Limited (the seller), had completed the placement of its existing shares. The board was notified by the seller that the placement had been finalized. Consequently, all the shares available for placement (approximately 1.327 billion shares, representing about 67.47% of the company's existing issued share capital and equivalent to the seller's entire holding prior to completion) were successfully allocated by the placing agent to no fewer than six placees pursuant to the placement agreement. All these placed shares were settled on April 9, 2026.

According to the placing agent, each placee has confirmed that they and their respective ultimate beneficial owners are independent of the seller, the company, or any persons acting in concert with the seller or the company, and are not connected to or acting in concert with them. Under the terms of the placement agreement, following completion, no placee (either individually or together with any persons acting in concert) may hold 30% or more of the total issued share capital of the company.

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