According to Zhitong Finance App, China Tiangong Holdings (00428) issued an announcement. On October 12, 2026 (after the trading period), the Company entered into a placement agreement with the placement agent. According to this, the Company has appointed a placement agent to facilitate the consignee to subscribe for up to 308.516 million shares to be placed according to best efforts. The relevant price is HK$0.155 per placed share.
The maximum number of shares to be placed is equivalent to: (i) approximately 20.00% of the Company's current issued share capital at the date of this announcement; and (ii) approximately 16.67% of the issued share capital of the Company after the allocation and issuance of placed shares (assuming that there are no other changes in the Company's issued share capital between the date of this announcement and completion of the placement). The maximum total face value of the shares to be placed in the placement transaction will be HK$308,500.
Assuming that the highest number of shares placed is placed, the total proceeds from the placement will be approximately HK$4.8 million, while the net proceeds from the placement will be approximately HK$4.7 million. The total amount of net proceeds from the placement to be invested in listed and/or unlisted securities is approximately HK$3.7 million, while the balance of approximately HK$1 million will be used as the Group's general working capital.
The placement price of HK$0.155 per share is determined through negotiations between the Company and the placement agent in accordance with the principle of fairness. The placement price is approximately 19.27% off the closing price of HK$0.192 per share reported on the Stock Exchange on October 12, 2026 (i.e. the date of the placement agreement).