Graphex Group (06128) has announced that on October 13, 2026, the company intends to place up to a total of 188 million placement shares, representing approximately 19.99% of the company's existing issued share capital as at the date of this announcement, and approximately 16.67% of the company's issued share capital as enlarged by the allotment and issue of the placement shares.
The placement price is HK$0.050 per placement share, representing a discount of approximately 1.96% to the closing price of HK$0.051 per share on October 13.
Assuming all placement shares are successfully placed under the placement agreement, the gross proceeds from the placement will be approximately HK$9.413 million, while the net proceeds from the placement will be approximately HK$8.9 million.
The directors intend to use the net proceeds to repay debts and supplement the group's working capital to support its business operations.