Wing Lee places 100 million shares to raise HK 90 million
Wing Lee Development Construction Holdings proposes placing up to 100 million shares to raise over HK 90 million net proceeds for expanding its new energy business operations
Wing Lee Development Construction Holdings Limited, listed under the stock code 9639.HK, has announced plans to raise HK$90 million by issuing 100 million shares. The Placing Agreement, signed after the Stock Exchange's trading hours on 28 October 2026, involves procuring at least six independent third-party investors to purchase a maximum of 100 million Placing Shares at a price of HK$0.97 each.
If completed, these Placing Shares would represent 10% of the company's current issued share capital and approximately 9.09% after the new shares are issued. Expected gross proceeds from the placement are HK$97 million, with net proceeds approximated at HK$94.6 million after expenses. The company intends to allocate 60% of net proceeds, around HK$56.76 million, towards expanding its new energy business, including investments in battery energy storage systems, charging and battery-swapping infrastructure, and other renewable energy projects.
The remaining 40%, approximately HK$37.84 million, will be used to bolster the group's working capital for construction and engineering projects. The Board believes these funds will help strengthen existing operations while tapping into the growing demand for clean energy and digital infrastructure in Hong Kong and Southeast Asia.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
