China Union Development Holdings (00264.HK intends to issue up to 25 million shares at a 14.08% discount, with net proceeds of HK$44.57 million.

Gelonghui March 17 — China United Development Holdings (00264.HK) announced that on March 17, 2026, the placement agent entered into a placement agreement with the company. Under this agreement, the placement agent has conditionally agreed, as the company’s agent on a best effort basis, to facilitate at least six allottees (each of whom and their ultimate beneficial owners are independent third parties) to subscribe for up to 25 million placement shares at a price of HKD 1.83 per share. The placement shares will be issued and allotted pursuant to the general mandate granted to the directors at the annual general meeting held on June 3, 2025. The placement price of HKD 1.83 per share represents a discount of approximately 14.08% to the closing price of HKD 2.13 per share reported on the Stock Exchange.

Upon completion of the placement, the maximum gross proceeds and net proceeds are expected to be HKD 45.75 million and approximately HKD 44.57 million, respectively. Based on this, the net issue price will be approximately HKD 1.783 per share.