China Baoli Technologies Holdings Limited signed eight subscription agreements on 19 May 2026 to place 19.77 million new shares at HK$0.420 each, raising gross proceeds of HK$8.30 million and estimated net proceeds of approximately HK$8.00 million after fees.
The new shares equal 6.00 % of current issued capital and 5.66 % of enlarged share capital. Issue price reflects a 19.23 % discount to the 19 May closing price (HK$0.520) and a 17.97 % discount to the five-day average (HK$0.512).
All shares will be issued under the existing general mandate, which has 19.77 million shares unused; therefore, no additional shareholder approval is required.
Proceeds allocation: • HK$3.00 million – machinery manufacturing and parts procurement • HK$0.50 million – iron-ore testing and analysis • HK$2.00 million – staff costs for technical and support teams • HK$0.50 million – logistics and transportation • HK$2.00 million – R&D and project overheads related to dry grinding and dry beneficiation (DGDB) technology in Mongolia.
Post-placement ownership: public shareholders’ stake will fall from 98.25 % to 92.68 %, while the eight investors will collectively hold 6.61 % of the enlarged share base.
Completion is subject to customary conditions, including Stock Exchange listing approval; the eight agreements are not inter-conditional.
In the past 12 months, China Baoli raised HK$12.50 million via a March–April 2026 share subscription and HK$71.60 million through a 2025 rights issue and placing.
Comments