Hong Wei Asia announced the outcome of its non-underwritten 4-for-1 rights issue, revealing a low subscription rate and a forthcoming placing of the bulk of the shares left on the table.

Key takeaways

1. Rights issue results • Offer size: 294.87 million rights shares (the “Offered Shares”), representing four new shares for every existing share held on the record date. • Valid acceptances: 95.71 million rights shares, equal to 32.46% of the Offered Shares. Only one valid application was received. • Unsubscribed tranche: 199.17 million rights shares (67.54% of the offer) will be offered to independent investors under a best-efforts placing mandate.

2. Placing arrangements • Placing Agent must procure acquirers for the Unsubscribed Rights Shares by 6:00 p.m., 10 July 2026, at not less than the subscription price. • Any shares not placed will be cancelled, shrinking the final issue size. • Completion of both the rights issue and the placing hinges on the fulfilment of specified conditions by 4:00 p.m., 13 July 2026.

3. Capital and shareholding impact • Pre-issue share capital: 73.72 million shares. • Post-acceptance share capital: 169.43 million shares (assuming only the accepted rights shares are issued). • Major shareholder Mr. Wong Cheung Lok’s stake falls from 29.17% to 12.69% as his absolute holding remains at 21.50 million shares. • Public float rises from 70.81% to 87.30%.

4. Timetable • Share certificates for fully paid rights shares to be dispatched on 20 July 2026. • Trading in fully paid rights shares scheduled to begin at 9:00 a.m. on 21 July 2026.

Risk reminder The rights issue and the placing remain conditional; if requirements are unmet, both may lapse. Investors are advised to exercise caution when dealing in the shares until confirmation expected by 13 July 2026.