ZHONGAN GROUP (00672) announced on December 1, 2025, that it has entered into a placing agreement with a placing agent. Under the agreement, the company will place up to 37 million shares of ZHONGAN SMART, representing approximately 7.15% of its total issued shares as of the announcement date, to no fewer than six independent placees at HKD 2.08 per share.
The placing price represents a premium of about 1.96% over ZHONGAN SMART's closing price of HKD 2.040 per share on the Hong Kong Stock Exchange on December 1, 2025. As of the announcement date, ZHONGAN GROUP indirectly holds approximately 71.28% of ZHONGAN SMART's total issued shares.
Upon completion of the placing, assuming all 37 million shares are successfully placed, ZHONGAN GROUP's indirect stake in ZHONGAN SMART will decrease to approximately 64.13%. ZHONGAN SMART will remain a subsidiary of ZHONGAN GROUP, and its financial results will continue to be consolidated into the group's financial statements.
The net proceeds from the placing, estimated at approximately HKD 74.96 million after deducting related expenses, are intended to be used for the group's general working capital purposes.
