According to Zhitong Finance App News, Haina Star Technology (08297) announced that on September 18, 2026 (after the trading session on the Stock Exchange), the Company entered into a placement agreement with the placement agent. According to this, the Company conditionally agreed to place up to 259 million shares to no less than six undertakers at a price of HK$0.041 per share through the placement agent. These undertakers and their ultimate beneficial owners (if applicable) are independent third parties.
The maximum number of placed shares of 259 million shares is equivalent to (i) approximately 20.00% of the total number of issued shares of the Company at the date of this announcement; and (ii) assuming that there is no change in the issued share capital of the Company between the date of this announcement and the date of completion, approximately 16.67% of the total number of issued shares of the Company after all allotments and issuance of expanded placed shares. The total face value of the maximum number of shares to be placed under the placement items will be HK$2,587,300.
The placement price of HK$0.041 per share is approximately 18.00% off the closing price of HK$0.05 per share as reported on the Stock Exchange on the date of the placement agreement.
Upon completion, and assuming that all placed shares are successfully placed by the placement agent, the total maximum proceeds from the placement is estimated to be approximately HK$10.61 million, while the net maximum proceeds from the placement transaction (after deducting placement commissions, professional fees and all related expenses that the Company may incur) is estimated to be approximately HK$10.22 million, which is equivalent to a net issue price of approximately HK$0.0395 per placed share.
The net maximum proceeds from the placement are intended to be used as follows: (i) HK$5.11 million (or 50%) to support the working capital requirements of the Group's main business; and (ii) HK$5.11 million (or 50%) for the general working capital of the Company.