Madison Holdings Group Limited on 18 June 2026 announced the subscription results of its non-underwritten rights issue of 93.47 million shares, offered on the basis of three rights shares for every two shares held.

As of the 12 June deadline, the company received two valid applications for a total of 25.83 million rights shares, translating to a 27.63% acceptance rate. The remaining 67.64 million unsubscribed shares—72.37% of the offer—will be disposed of under compensatory arrangements.

In line with Rule 10.31(1)(b) of the GEM Listing Rules, these unsubscribed shares will be placed on a best-effort basis by the appointed placing agent between 22 June and 3 July 2026. Any premium achieved above the subscription price will be distributed, net of expenses, to shareholders who did not take up their entitlements, pro-rated to their unexercised rights. Individual entitlements below HK$100 will be retained by the company.

Should any shares remain unplaced at the end of the process, they will not be issued, and the size of the rights issue will be reduced accordingly. Madison Holdings plans to release the final placement results, including any net gain per unsubscribed share, on 9 July 2026.

The company cautioned investors that both the rights issue and the placing remain conditional; dealings in the shares until all conditions are met carry execution risk.