HK Stock Market Move | WING LEE DEV (09639) intraday rises over 6%; proposes placing at approximately 9.77% discount to raise net proceeds of about HK$94.6 million

WING LEE DEV (09639) rose over 6% intraday, up 6.51% as of press time at HK$1.145, with turnover of HK$1.3272 million. On the news front, WING LEE DEV announced that on October 28, 2026 (after the trading session of the Stock Exchange), the Company and the placing agent entered into a placing agreement, pursuant to which the Company has conditionally agreed to issue, and the placing agent has conditionally agreed (as agent of the Company) to use its best efforts to procure not fewer than six placees (who and whose ultimate beneficial owners must be independent third parties) to subscribe for up to 100 million placing shares at a placing price of HK$0.97 per placing share. The placing price is HK$0.97 per placing share, representing a discount of approximately 9.77% to the closing price of HK$1.075 per share as quoted on the Stock Exchange on the date of the placing agreement. Assuming all placing shares are fully placed, the estimated gross proceeds and net proceeds (after deducting placing commission and other related expenses and professional fees) from the placing will be approximately HK$97 million and HK$94.6 million, respectively.