On October 29, 2025, C.banner International Holdings Limited (Stock Code: 1028) entered into nine agreements with nine subscribers for the proposed issuance of 415,400,000 new shares under its general mandate, along with 474,500,000 unlisted warrants under a specific mandate. The new shares are priced at HK$0.205 each, while the warrants carry an issue price of HK$0.036 and an initial exercise price of HK$0.28 per share.

According to the company’s announcement, the 415,400,000 subscription shares represent 20% of C.banner’s existing issued share capital. Immediately following the completion of this issuance, the total number of shares in issue would increase from 2,077,000,000 to 2,492,400,000, of which the subscription shares will account for approximately 16.67%. Should the warrants be fully exercised, up to 474,500,000 additional shares would be issued, representing about 19.04% of the enlarged share capital after taking the subscription shares into account.

The company expects net proceeds of HK$80 million from the subscription shares and HK$16 million from the warrants. If all warrants are fully exercised, the aggregate net proceeds would be approximately HK$131 million. C.banner intends to apply these proceeds toward general working capital, including exploring the use of AI technology to enhance and upgrade its business operations.

Under the Listing Rules, the warrants and corresponding warrant shares require a specific mandate; the subscription shares will be allotted pursuant to the company’s existing general mandate. A special general meeting will be convened for shareholders to consider the proposed issuance of the warrants.

C.banner highlights that this proposed issuance remains subject to conditions precedent, including the necessary shareholder approvals for the specific mandate. The company advises shareholders and potential investors to exercise caution, as the conditions may or may not be fulfilled.