Ximei Resources to raise HK$100m through share placing

Ximei Resources Holding Limited has entered into a placing agreement to issue up to 20,000,000 new shares at a placing price of HK$5.0 per share. This transaction aims to raise gross proceeds of approximately HK$100 million, with net proceeds, after deducting expenses, estimated at HK$98.5 million. The company plans to use these net proceeds as general working capital, strengthening its financial position and supporting future development.

The placing price of HK$5.0 per share represents a discount of approximately 15.25% to the closing price of HK$5.90 on the date of the placing agreement and a discount of approximately 17.65% to the average closing price over the five preceding trading days. The 20,000,000 new shares represent approximately 5.56% of the existing issued share capital and 5.26% of the enlarged share capital. The placing will be conducted under the general mandate and does not require shareholder approval.

The placing agent, Maxa Asset Management Limited, will procure at least six placees. Completion of the placing is subject to various conditions, including approval for listing from the Stock Exchange. Shareholders are advised to exercise caution as the placing may or may not proceed.