Core Viewpoint - The company, Laopu Gold, plans to issue 3.71 million new H-shares at a discount of approximately 4.50% to raise around HKD 2.7 billion for inventory reserves and store expansion, marking its second fundraising since 2025 [1][2]. Fundraising Details - The placement price is set at HKD 732.49 per share, which is about 4.50% lower than the closing price of HKD 767.00 on October 21, 2025, and approximately 5.59% lower than the average closing price of HKD 775.90 over the preceding five trading days [1]. - If fully subscribed, the total gross and net proceeds (after commissions and estimated expenses) are expected to be approximately HKD 2.719 billion and HKD 2.707 billion, respectively, with a net issuance price of about HKD 729.23 per share [1]. Use of Proceeds - 70% of the funds will be allocated for inventory reserves to meet increasing demand during peak sales seasons, considering the long procurement and sales cycle [2]. - 10% will be used for store expansion and optimization of existing store locations, including costs related to rent, design, renovation, and employee recruitment [2]. - 20% will be directed towards working capital and general corporate purposes, including the recruitment of high-level talent [2]. Previous Fundraising - In May 2025, Laopu Gold announced a placement of 4.31 million new H-shares, raising approximately HKD 2.698 billion, with 80% of the funds intended for core business development [3]. - As of September 30, 2025, most of the previous funds have been utilized, with only about HKD 10 million remaining [3]. Financial Performance - For the six months ending June 30, 2025, Laopu Gold reported revenues of HKD 12.354 billion, a year-on-year increase of 251%, and an adjusted net profit of HKD 2.35 billion, up 290.6% [3]. - Revenue from gold products accounted for 99.9% of total revenue, with a significant increase in loyal membership reaching approximately 480,000, up by 130,000 from the previous year [3]. Stock Performance - On October 22, 2025, Laopu Gold's stock price dropped over 8% at one point, closing down more than 6% [4].
老铺黄金拟折价4.5%配股募资27亿港元，早盘一度跌超8%