China Ruifeng Renewable Energy Holdings Limited (Stock Code: 00527) has released a circular detailing two proposed fundraising activities involving new share issuance and convertible bonds, subject to shareholder approval at an Extraordinary General Meeting (EGM) scheduled for 6 March 2026 in Hong Kong.
According to the announcement, one proposal (Subscription B) involves issuing 119,437,859 new shares at HK$0.196 each and issuing convertible bonds amounting to HK$161.7 million (the “2026 HKD Convertible Bonds”) to Atlantis New Hong Kong Equity Fund Limited. Another proposal (CB Subscription C) involves issuing HK$98.0 million of the same type of convertible bonds to Great Praise Investment SPC – Growth Engine Fund SP.
The circular indicates that both subscriptions, if approved, would be allocated under specific mandates granting the board authority to issue the respective new shares and conversion shares. The company has outlined that approximately 70% of the net proceeds will go towards repaying its outstanding debt securities and borrowings, 20% will support future business development, and the remaining 10% will serve general working capital needs.
The subscription prices and conversion prices—initially set at HK$0.196—were determined with reference to the company’s share price performance and financial status. Should the proposed transactions be successful, the company aims to bolster its financial capacity and stabilize its capital structure.
Shareholders are invited to attend and vote on these matters at the EGM. The announcement emphasizes that the proposed agreements are not inter-conditional, and no shareholders are currently required to abstain from voting. Share transfers must be lodged before 2 March 2026 to qualify for attendance at the EGM.
All details regarding the share and convertible bond subscriptions, including background, pricing, and use of proceeds, are provided in the company’s circular. Shareholders and investors are advised to review the official materials and exercise caution when dealing in the company’s securities.