GENFLEET-B (ASX: 02595) has entered into a share placement agreement, according to a company announcement.

The agreement, signed with a placement agent after market hours on July 14, 2026, involves the placement agent acting on a best-efforts basis to procure no fewer than six placees to subscribe for 13.6 million new H shares.

The placement price has been set at HK$34.69 per H share, which represents a discount of approximately 9.71% to the closing price of HK$38.42 per H share on the Hong Kong Stock Exchange on July 14, 2026, the date of the placement agreement.

This price also represents a discount of about 3.49% to the average closing price of HK$35.94 per H share for the five consecutive trading days immediately preceding the agreement date.

The 13.6 million placement shares account for approximately 4.02% of the issued H shares and 3.67% of the total issued shares as of the announcement date.

Assuming all placement shares are fully subscribed, the gross proceeds from the placement are expected to be approximately HK$472 million.

After deducting commissions and other related expenses, the estimated net proceeds are approximately HK$467 million, resulting in a net issue price of about HK$34.33 per placement share.

The company intends to allocate the net proceeds as follows: approximately 75% will be used to advance its core product pipeline, including the RAS inhibitor and other innovative therapies such as GFH276, GFS202A, and GFS784.

Approximately 15% of the net proceeds are earmarked for enhancing the company's research and development technology platforms.

The remaining 10% will be allocated to supplement working capital and for other general corporate purposes.