XXF Announces Discounted Share Placement to Raise Approximately HKD 126 Million

Stock News

May 13

XXF (02473) has announced the signing of a placement and subscription agreement with the seller, Pearl Capital Resources Limited, and a placing agent on May 13, 2026 (after trading hours). Under the agreement, the seller intends to place approximately 155 million existing shares to no fewer than six placees through the placing agent at a price of HKD 0.82 per share. This represents a discount of approximately 2.38% compared to the closing price of HKD 0.84 per share on the last trading day on the Stock Exchange. Concurrently, the company will issue the same number of new shares to the seller at HKD 0.82 per share, with net proceeds expected to be around HKD 126 million. The funds are intended for the further procurement of vehicles related to the group's main business and for related purposes.

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