SHANGHAI XNG (03666) plans to discount approximately 16.7% of the new shares, with a maximum net fundraising of about 8.7 million Hong Kong dollars.

SHANGHAI XNG (03666) announced on May 12, 2025, that the company intends to sell a maximum of approximately 442.6 million shares through a placing agent to no less than six placing agents at a price of 0.020 Hong Kong dollars per share. This represents a discount of approximately 16.7% from the closing market price of 0.024 Hong Kong dollars per share on the date of the placing agreement on the Stock Exchange of Hong Kong. Assuming all the placing shares are fully allocated, the net proceeds will be approximately 8.7 million Hong Kong dollars, which will be used for the general operating capital of the group.