LIANLIAN plans to place approximately 38.4 million shares at a discount of about 10.09%, raising approximately HKD 387 million

According to the announcement from Zhitong Finance APP, LianLian (02598) has entered into a placement agreement with the placement agents on July 12, 2025, under which the company agrees to issue placement shares. The placement agents, subject to the representations, warranties, and commitments contained in the placement agreement and its conditions, agree to act as the company's agents on an individual basis during the placement period to use their best efforts to facilitate buyers to purchase the placement shares at the placement price. The placement shares will be issued and allotted under the general mandate. The company will issue 38.4 million new H shares with a par value of RMB 1.00 each in accordance with the terms listed in the placement agreement and under the conditions specified in the placement agreement. The placement price for each placement share is HKD 10.25, representing a discount of approximately 10.09% compared to the closing price of HKD 11.40 per share reported on the Hong Kong Stock Exchange on July 11, 2025 (the last trading day and the date on which the placement price was determined).

Assuming all placement shares are fully placed, the total amount of funds raised from the placement is expected to be HKD 394 million, while the net proceeds from the placement (after deducting commissions and estimated expenses) are expected to be approximately HKD 387 million. The net proceeds from the placement are intended to be used by the group for the following purposes: (i) 50% for innovation and application of innovative technologies such as blockchain in the global payment field; (ii) 30% for global business and license expansion; and (iii) 20% for general corporate purposes