TRANSTECH (09963) announced on December 17, 2025, that the company entered into a placement agreement with joint placing agents. Under the agreement, the company conditionally agreed to place up to 52 million shares at HK$0.476 per share to no fewer than six independent third-party placees on a best-efforts basis. The placing shares represent approximately 20.00% of the total issued shares as of the announcement date and about 16.67% of the enlarged issued share capital upon completion (assuming no changes in issued shares other than the placement). The placing price represents an 11.85% discount to the closing price of HK$0.54 per share on the Hong Kong Stock Exchange on December 17, 2025. Assuming full subscription, the gross proceeds are expected to be approximately HK$24.8 million, with net proceeds (after deducting commissions and expenses) estimated at HK$24.4 million. The net price per placing share would be approximately HK$0.469. The company intends to allocate (i) 32.8% of the net proceeds to repay bank and other borrowings and (ii) 67.2% for general working capital purposes.
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TRANSTECH (09963) Plans to Place Up to 52 Million Shares at 11.85% Discount, Targeting Net Proceeds of HK$24.4 Million
Stock News2025-12-17
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