WEB3 META plans to issue 8.2464 million subscription shares at a discount of approximately 19.19%, raising about HKD 12.8 million net
WEB3 META announced that it has signed a subscription agreement with Invengo Technology Pte. Ltd., planning to issue 8.2464 million subscription shares at a price of HKD 1.6 per share, representing a discount of approximately 19.19%. It is expected to raise approximately HKD 12.8 million in net proceeds, which will be used to repay loans and for general working capital and business expansion
According to the announcement from ZhiTong Finance APP, WEB3 META (08093) announced that on September 15, 2025 (after trading hours), the company entered into a subscription agreement with the subscriber Invengo Technology Pte. Ltd., under which the company conditionally agreed to allot and issue, and the subscriber conditionally agreed to subscribe for the subscription shares at the subscription price. The subscription price of HKD 1.6 represents a discount of approximately 19.19% to the theoretical closing price of HKD 1.98 per share reported on the Stock Exchange on the date of the subscription agreement (equivalent to a closing price of HKD 0.099 per share).
Assuming the share consolidation has been completed as of the date of this announcement, the subscription shares (a total of 8.2464 million consolidated shares) will account for (i) approximately 20.00% of the company's issued share capital as of the date of this announcement; and (ii) approximately 16.67% of the company's issued share capital after the subscription shares are issued.
It is estimated that the total proceeds from the issuance of the subscription shares will be approximately HKD 13.2 million, and the net proceeds will be approximately HKD 12.8 million. The company intends to use the net proceeds (i) to repay borrowings and (ii) for general working capital and business expansion of the group
