China Hongqiao raises HK$11.49 bn in share placement

China Hongqiao Group Limited announced the completion of its placing of 400,000,000 existing shares and a top-up subscription of 400,000,000 new shares, each at HK$29.20 per share. The placing concluded on November 20, 2025, with the subscription following on November 25, 2025. This dual transaction generated estimated net proceeds of approximately HK$11,490.1 million.

The proceeds are allocated across several strategic initiatives. HK$6,894.1 million (60%) is earmarked for the development and enhancement of domestic and overseas projects, including new energy, the Simandou iron ore project, relocation of production capacity in Yunnan, and lightweight materials, to be utilized by December 31, 2026.

An additional HK$3,447.0 million (30%) will be used for repayment of existing debt to optimize the company’s capital structure by June 30, 2026, addressing part of the approximately HK$54 billion in debt maturing by that date. The remaining HK$1,149.0 million (10%) is designated for working capital and general corporate purposes, with full utilization expected by March 31, 2026.