Core Viewpoint - China Hongqiao (01378) announced a placement and subscription agreement with its controlling shareholder, Hongqiao Holdings, on November 17, 2025, to issue shares at a discount to the market price [1] Group 1: Placement and Subscription Agreement - The placement agent conditionally agreed to place shares held by Hongqiao Holdings to independent subscribers at a price of HKD 29.20 per share, which represents a discount of approximately 9.60% compared to the closing price of HKD 32.30 on the same date [1] - Hongqiao Holdings conditionally agreed to subscribe for shares at the same price, and the company will issue these subscription shares under the terms of the agreement [1] Group 2: Financial Implications - Assuming the subscription involves the issuance of 400 million shares, the net proceeds from the subscription are expected to be approximately HKD 11.49 billion [1] - The company plans to use the net proceeds for the development and enhancement of domestic and overseas projects, repayment of existing debts to optimize its capital structure, and for general corporate purposes [1]
中国宏桥(01378)拟先旧后新配售4亿股 净筹约114.9亿港元