China Hanking raises HK$234.75m for Australian gold projects

China Hanking Holdings Limited announced a conditional agreement to issue 75,000,000 new shares at a subscription price of HK$3.13 per share. Zijin Global Fund (Subscriber I) will subscribe for 25,000,000 shares, and Gold Mountains (Subscriber II) for 50,000,000 shares. This transaction, executed on September 22, 2025, will generate gross proceeds of approximately HK$234.75 million and net proceeds of approximately HK$231.45 million, with a net price of HK$3.09 per share.

The subscription price represents a 14.7% discount to the closing price of HK$3.67 on the subscription agreement date, and a 2.4% discount to the five-day average closing price of HK$3.21. However, it is a 12.1% premium to the thirty-day average closing price of HK$2.79. The new shares represent about 3.83% of the existing share capital and 3.69% of the enlarged share capital.

The proceeds are earmarked to support the development of China Hanking's Australian Gold Mining Projects, specifically the Cygnet and Mt Bundy projects. The issuance will be made under the company's General Mandate and is not subject to further shareholder approval. Zijin Global Fund and Gold Mountains are both subsidiaries of Zijin Mining Group.