Hope Life completes share placement and asset acquisition

Hope Life International Holdings Limited announced the completion of its placing of new shares under a general mandate and the finalization of disclosable transactions linked to acquiring target assets and right-of-use assets. The company successfully placed 141,040,000 shares at HKD 0.6 each. The placing generated net proceeds of approximately HKD 83.63 million, earmarked for funding new construction projects (HKD 49.46 million), launching advertising for its new huangjiu product (HKD 15 million), working capital for the huangjiu production plant (HKD 16 million), and general working capital (HKD 3.17 million). The company also clarified a clerical error in a previous announcement regarding the purchase consideration, revising it to HKD 87 million from HKD 87.3 million. Alongside the share placement, Hope Life also completed the purchase and lease agreements for target assets, granting the Lessee the exclusive right to use the Properties for 20 years beginning on June 23, 2025. Post-completion, the Vendor/Lessor holds 9.11% of shares (170,000,000) and the placees hold 7.56% of shares (141,040,000), while public shareholders hold 83.33% of shares (1,555,200,000).