Weimob to raise HK$1.56 bn via share placement for growth

Weimob Inc. will issue 688,494,000 new subscription shares at HK$2.26 per share, aiming to raise approximately HK$1,556.00 million in gross proceeds. The net proceeds, estimated at HK$1,555.29 million, will be used to integrate AI in SaaS (30%), expand media channels and targeted marketing services (30%), develop overseas business (10%), and for working capital and general corporate purposes (30%). The subscription price represents an 8.87% discount to the closing price on September 17, 2025.

The new shares, representing 19.04% of the existing issued share capital and 16.00% of the enlarged share capital, will be issued under the company's general mandate and do not require further shareholder approval. They will rank pari passu with existing shares. Infini Capital Management Limited is the subscriber, with Guotai Junan Securities (Hong Kong) Limited and CLSA Limited acting as placing agents.

The completion of the subscription is subject to various conditions, including Hong Kong Stock Exchange listing approval for the new shares, and is expected to be fully utilized by the end of 2027. Investors are reminded to exercise caution as the completion may or may not materialize as planned.