Imagi International Holdings Limited announced further details regarding a subscription transaction as previously disclosed on 30 January 2026. Under this arrangement, a subsidiary of Imagi International Holdings Limited (IFGL) plans to issue new shares in exchange for shares held by the subscriber.

The subscription price was derived after arm’s length negotiations, referencing IFGL’s net asset value of HK$820.30 million and a market value of HK$720.50 million as at 30 November 2025. An independent professional valuer used an asset-based approach, noting that IFGL’s value is heavily influenced by investments and assets that can be measured reliably, while market-based and income-based approaches were deemed unsuitable.

The valuer assessed market values for IFGL’s accounts receivable, loan receivables, and traded securities by factoring in credit losses, counterparty risk, and closing prices of listed securities as at 30 November 2025. Unlisted private investments were evaluated based on book values, with adjustments made for their loan receivables. The valuer applied a 9.88% discount for lack of marketability and a 10.73% minority discount to reflect reduced liquidity and non-controlling interests.

IFGL’s management financials as at 30 November 2025 and relevant assumptions on taxation, political, economic, and regulatory conditions were also taken into account. Completion of the transaction remains subject to relevant conditions, and potential investors are advised to exercise caution when dealing in the company’s shares.