Dongfang Electric to raise HK$1.08bn via new H-share placement

Dongfang Electric Corporation Limited announced its plan to place 68,000,000 new H shares under a general mandate, following board approval on September 17, 2025. The placement price per H share is HK$15.92, representing a discount of approximately 7.98% to the last closing price of HK$17.30 on September 17, 2025.

The placement is expected to raise a gross amount of approximately HK$1,082.56 million and a net amount of approximately HK$1,074.84 million, after deducting associated costs. The net proceeds will be equally split, with approximately HK$537.42 million allocated to research and development investments and another HK$537.42 million to expand sales channels.

This placement, representing about 20% of existing H shares and 2.01% of total issued shares, aims to provide financial support for the company's operational activities, particularly in the rapidly evolving power equipment sector driven by "dual carbon" goals. The H shares will rank equally with existing H shares upon issuance.