Safexun International (01953) plans to discount approximately 18.58% and place 215 million shares to raise approximately HK$208 million

According to Zhitong Finance App News, SafeXun International (01953) announced that the Company and the placement agent entered into a placement agreement on October 21, 2026 (after the trading period). According to this, the Company agreed to appoint a placement agent, and the placement agent has agreed to act as the Company's agent to do their utmost to induce no less than six placement targets to subscribe for up to 215 million shares at an placement price of HK$0.973.

Assuming that there is no change in the issued share capital of the Company from the date of this announcement until the completion of the placement, the highest number of shares placed accounts for about 17.06% of the Company's current issued share capital, and approximately 14.58% of the Company's issued share capital after the allocation and issuance of the highest number of shares placed was expanded. The placement price of HK$0.973 per share was discounted by approximately 18.58% compared to (i) the closing price of HK$1.195 per share reported on the last trading day of the shares in question on the Stock Exchange.

The maximum gross proceeds and net proceeds from the placement (after deducting placement commissions, professional fees and all related expenses) were approximately HK$209 million and HK$208 million respectively. The Company intends to use the net proceeds from the placement for (i) the working capital of the new energy power plant construction contract; (ii) business development in Southeast Asia and Africa; and (iii) general working capital.