WAN KEI GROUP HOLDINGS LIMITED (01718) announced that on February 3, 2026, the company entered into a placing agreement with a placing agent. The placing agent has conditionally agreed, on a best-efforts basis, to procure not fewer than six placees to subscribe for up to 50.688 million placing shares at a placing price of HK$0.25 per share.

The placing shares represent approximately 16.67% of the company's enlarged issued share capital. The placing price of HK$0.25 per share represents a discount of approximately 12.28% compared to the closing price of HK$0.285 per share as quoted on the Stock Exchange on the last trading day.

Assuming all placing shares are successfully placed, the gross proceeds from the placing are expected to be approximately HK$12.7 million. The net proceeds, after deducting commissions and other related expenses, are estimated to be approximately HK$12.5 million, resulting in a net issue price of approximately HK$0.2458 per placing share.

The Directors intend to allocate the entire net proceeds from the placing for general working capital purposes. Specifically, approximately HK$9.4 million will be used for directors' emoluments, remuneration, and employee salaries; around HK$1.6 million is designated for rental expenses; and approximately HK$1.5 million will cover legal and professional fees.