WELIFE TECH (01703) has announced the signing of a placement agreement with a placing agent after market close on March 13, 2026. Under the agreement, the company conditionally agreed to place up to 230 million new shares at HK$0.064 per share to no fewer than six placees, all of whom are independent third parties. The placing will be conducted on a best-efforts basis by the placing agent.

The 230 million placement shares represent 20% of the company's existing issued share capital of 1.15 billion shares as of the date of the placement agreement. Upon completion of the placement, the new shares will account for approximately 16.67% of the company's enlarged issued share capital of 1.38 billion shares, assuming no further changes to the share capital structure prior to completion.

The total maximum face value of the placement shares is approximately HK$2.3 million. The placing price of HK$0.064 per share represents a discount of approximately 12.3% compared to the closing price of HK$0.073 per share on the Hong Kong Stock Exchange on March 13, 2026.

The maximum gross proceeds from the placement are expected to be approximately HK$14.6 million. After deducting commissions payable to the placing agent, professional fees, and other related costs and expenses, the estimated net proceeds will be approximately HK$13.6 million. The net price per placement share is approximately HK$0.059.

The company intends to use the net proceeds from the placement for general working capital purposes.