Kingboard Plans to Raise $1.5B With Placement of Unit's Shares

Dow Jones09:20

By Sherry Qin

Kingboard Holdings plans to raise $1.50 billion selling 155 million of shares in its unit Kingboard Laminates to expand its business and repay loans.

The Hong Kong-based company aims to place the shares at 76 Hong Kong dollars each, representing a 11.5% discount to its closing price on their last trading day, it said in an exchange filing early Wednesday.

The net proceeds will be around HK$11.77 billion, which Kingboard plans to use to invest in its printed circuit board business, expand production capacity and repay existing loans, among others.

Kingboard manufactures and sells laminates, printed circuit boards, chemicals, magnetic products, while also involved in property development and investments.

After the placement, Kingboard's stake in Kingboard Laminates will fall to 61.70% from 66.62%.

Kingboard Holdings' shares last closed at HK$99.00.

Write to Sherry Qin at sherry.qin@wsj.com

(END) Dow Jones Newswires

June 16, 2026 21:20 ET (01:20 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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