KING'S STONE (01943) plans to offer a discount of approximately 19.87% for the distribution of up to 150 million shares for sale.

King's Stone (01943) announced that on September 5, 2025, the company entered into a placing agreement with the placing agent, who conditionally and severally agreed to act as the company's placing agent, to use best efforts to place up to 1.5 billion shares at a placing price of HK$0.617 per share to no fewer than six placing persons (who themselves and their ultimate beneficial owners (if applicable) are independent third parties). The placing shares represent approximately 13.04% of the enlarged share capital of the company. The placing price of HK$0.617 per share represents a discount of approximately 19.87% to the closing price of HK$0.77 per share reported by the Stock Exchange on September 5, 2025 (i.e. the date of the placing agreement). Assuming full placement of the placing shares, the total gross proceeds and net proceeds (after deduction of placing commission and other expenses of the placing) of the placing will be approximately HK$92.55 million and an estimated HK$91.02 million, equivalent to a net placing price of approximately HK$0.607 per placing share. The group intends to use approximately HK$67 million (approximately 73.61% of the net proceeds of the placing) for the development of industrial and commercial energy storage power plants on the user side and the upgrading of industrial parks; and approximately HK$24.02 million (approximately 26.39% of the net proceeds of the placing) for the expansion of general operating funds, including repayment of shareholder loans and payment of payables, salaries and benefits, professional expenses, rents and management fees, and other expenses and reserves.