Future Machine completes rights issue, raises HK$140m

Future Machine Limited announced the successful completion of its rights issue, raising approximately HK$140 million in gross proceeds. The offering, based on one rights share for every two existing shares, saw valid applications for 309,154,310 rights shares, representing 61.83% of the total. The undersubscribed portion of 190,845,690 rights shares was fully placed to six independent placees at HK$0.28 per share, matching the subscription price.

All conditions for the rights issue have been fulfilled, and the issue became unconditional on Thursday, October 30, 2025. Share certificates are expected to be dispatched on Tuesday, November 11, 2025, with dealings commencing on Wednesday, November 12, 2025.

The company plans to allocate the HK$138 million net proceeds primarily to its mobile phone and related products business (HK$79 million for working capital, HK$12 million for expansion and R&D), with additional funds for its automobile business (HK$5 million), ERP system (HK$2 million), general working capital (HK$20 million), and strategic investments in AI (HK$20 million).