XJ International rights issue undersubscribed, Hope Education stake grows

XJ International Holdings Co., Ltd.'s rights issue, which offered one rights share for every twelve existing shares, was undersubscribed by approximately 35.1%. The company received 15 valid acceptances totaling 444,792,885 rights shares, representing about 64.9% of the total, with 240,621,673 rights shares remaining. No unsubscribed rights shares were placed, meaning no net gain will be distributed to "No Action Shareholders."

The gross proceeds from the rights issue amounted to approximately HK$89.0 million, with net proceeds reaching approximately HK$87.4 million after expenses. These net proceeds are intended to fulfill payment obligations for outstanding convertible bonds. Post-completion, Hope Education Investment Limited increased its approximate shareholding from 45.2% to 46.45% (or 46.43% if convertible bonds convert).

Share certificates for the fully-paid rights shares are expected to be despatched on Wednesday, 24 September 2025, with dealings commencing on the Stock Exchange at 9:00 a.m. on Thursday, 25 September 2025. A potential tropical cyclone warning may delay certificate despatch, but other timetable dates remain unchanged.