Breton Technology Co., Ltd. (Breton) has finalised the placement of 18.32 million new H shares under its existing general mandate, raising gross proceeds of HK$220.89 million and net proceeds of HK$199.06 million.
The shares were issued at HK$12.06 each to not fewer than six independent institutional investors on 21 October 2026. The new shares represent 4.65% of Breton’s H-share base and 4.30% of its total issued share capital (excluding treasury shares) immediately after completion. No placee became a substantial shareholder as defined by Hong Kong listing rules.
Following the transaction, total issued shares (excluding treasury shares) increased from 407.88 million to 426.20 million. The shareholding of the concert-party group led by Chairman Chen Fangming declined from 30.64% to 29.32% of outstanding shares, while public float rose from 66.44% to 67.88% (including the new placees).
Use of proceeds is earmarked as follows: • 60% for overseas photovoltaic and energy-storage investments, targeted for full deployment by end-2027; • 20% for repayment of interest-bearing borrowings, expected to be completed by end-2026; • 20% for working capital and general corporate purposes, expected to be utilised by end-2027.
To reflect the enlarged capital, Breton’s registered capital has been updated to RMB427.62 million (427.62 million shares), and corresponding amendments to the Articles of Association have been filed with PRC authorities.
Comments