China Hongqiao secures HK$11.49 bn through share placing

China Hongqiao Group Limited, a leading aluminum product manufacturer, has announced a placing of existing shares and a top-up subscription of new shares under its general mandate, slated for November 17, 2025. The company will raise approximately HK$11,490.1 million in net proceeds from the subscription. This capital is earmarked for the development and enhancement of its domestic and overseas projects, repayment of existing indebtedness, and for general working capital purposes.

The transaction involves Hongqiao Holdings, a controlling shareholder, placing up to 400,000,000 existing shares and subscribing for an equivalent number of new shares at HK$29.20 per share. This price represents a 9.60% discount to the closing price of HK$32.30 per share on November 17, 2025. UBS AG Hong Kong Branch, CMB International Capital Limited, and China Securities (International) Corporate Finance Company Limited are the placing agents.

The new shares will represent approximately 4.03% of the enlarged issued share capital post-completion and will rank pari passu with existing shares. The subscription is conditional on various factors, including the Stock Exchange granting listing permission and the closing of the placing. Shareholders are advised to exercise caution as the completion is subject to conditions precedent.