WASION HOLDINGS (03393) raising HK$1.47B from top-up placing X

21/04/2026 09:59

(Infocast News) WASION HOLDINGS (03393) has announced a top-up placing of 50 million shares at HK$30 per share (representing a discount of 6.07% to the closing price on the last trading day) to raise HK$1.474 billion in net proceeds.

The Company intends to apply the Net Proceeds as follows:

(i) approximately 14.93% (or approximately HK$220 million) of the Net Proceeds will be allocated to the development of magnetic latching and HVDC business, including the construction of production facility and acquisition of production equipment. The Company is actively expanding its product portfolio into the upstream segment of the industry chain;
(ii) approximately 13.57% (or approximately HK$200 million) of the Net Proceeds will be allocated to the domestic research and development and investment in smart manufacturing to upgrade management efficiency and quality control. The Group will continue to enhance its research and development and manufacturing capabilities, with a view to strengthening its competitiveness in smart grid solutions;
(iii) approximately 33.92% (or approximately HK$500 million) of the Net Proceeds will be allocated to the expansion of overseas markets, including North America, Europe and South Africa;
(iv) approximately 13.57% (or approximately HK$200 million) of the Net Proceeds will be allocated to the acquisition of a company which is engaged in the business on the digitalization and intelligent development of energy management, providing end-to-end digital solutions covering advanced metering infrastructure for global power grids, industrial parks, and commercial and industrial users;
(v) approximately 13.57% (or approximately HK$200 million) of the Net Proceeds will be allocated to the repayment of bank borrowings; and
(vi) approximately 10.45% (or approximately HK$154 million) of the Net Proceeds will be allocated to the general working capital and general corporate purposes of the Group, including but not limited to payroll-related expenses, professional fees, administrative fees and other corporate expenses.
(WL)

Infocast Limited and its information providers endeavour to ensure the accuracy and reliability of the information provided, but do not guarantee its accuracy and reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.