Kexuan Power Holdings (00476) plans to issue a total of 99 million shares at a premium of about 4.8% to raise about HK$65.1 million

According to Zhitong Finance App, Kexuan Power Holdings (00476) announced that on August 28, 2026, the company (as the issuer) signed a subscription agreement with the subscribers Jinzhang Technology Co., Ltd., Hong Kong Minren Technology Co., Ltd., Yanxing Technology Co., Ltd., and Kunjin Holdings Co., Ltd. The company plans to issue a total of 99 million subscribed shares at a subscription price of HK$0.66 per subscription share. The 99 million subscribed shares are equivalent to approximately 21.8% of the company's issued share capital after being expanded through allotment and issuance of subscribed shares. The subscription price of HK$0.66 per share is approximately 4.8% premium compared to the closing price of HK$0.63 per share reported on the Stock Exchange on the date of the subscription agreement.

The total proceeds from the subscription will be approximately HK$65.3 million, while the net proceeds from the subscription are estimated to be approximately HK$65.1 million. The Company intends to use the net proceeds from the subscription as follows: approximately HK$32 million to identify strategic development opportunities and enhance the Group's e-business solutions business, and to use the Group's existing infrastructure and technology to seize changing market needs and business opportunities; approximately HK$22 million to settle the Group's financial liabilities, including but not limited to outstanding payments and other payables relating to the Chongqing Arbitration Commission; and the remaining HK$11.1 million for the Group's general working capital.

Furthermore, Mr. Ho Chiu-wing has been reappointed from an independent non-executive director to a non-executive director with effect from August 28, 2026.