TIME INTERCON (01729) completes the sale of 108 million shares, raising approximately HK$1.635 billion.

TIME INTERCON (01729) announced that all conditions stipulated in the subscription agreement have been met, and the subscription has been completed on February 20, 2026 in accordance with the terms and conditions of the subscription agreement. A total of 108 million shares (representing approximately 5.45% of the existing issued share capital of the Company immediately before the completion of the subscription, and approximately 5.16% of the Company's enlarged issued share capital after the completion of the subscription) have been successfully subscribed to by no fewer than six subscribers at a subscription price of HK$15.22 per share. Based on the actual number of subscription shares subscribed by the placing agent, the net proceeds from the subscription (after deducting relevant subscription commission and other related expenses, including professional fees) are approximately HK$1.635 billion. Accordingly, the net issue price per subscription share is approximately HK$15.13. The Company intends to use the total net proceeds from the subscription for the following purposes: (i) approximately 50% to support the Company's strategic investments and acquisitions; (ii) approximately 30% for the development of the Company's global business and expansion of overseas operations; and (iii) approximately 20% for working capital and general corporate purposes to support the Company's business operations and growth.