Zhong An Intelligent to Raise HK$78 Million Through Discounted Share Placing

Zhong An Intelligent Living Service Limited ( (HK:2271) ) has provided an update.

Zhong An Intelligent Living Service Limited has entered into a placing agreement to issue up to 51,741,400 new shares, equal to about 10% of its existing share capital, at HK$1.52 per share to at least six investors through a placing agent. The offer price represents discounts of roughly 16% and 19% to recent market prices, and the placement, conducted under a general mandate without shareholder approval, is expected to raise net proceeds of about HK$77.69 million while slightly diluting Zhong An Group’s majority stake and public shareholders’ interests.

The placing shares will be listed upon approval by the Stock Exchange, enlarging Zhong An Intelligent’s issued share base by about 9.09% upon completion, assuming full subscription. As Zhong An Intelligent is an indirect non-wholly owned subsidiary of Zhong An Group, the transaction also constitutes a deemed disposal by Zhong An, reflecting a modest reduction in its percentage ownership while potentially strengthening the subsidiary’s capital position for future operational or strategic needs.

More about Zhong An Intelligent Living Service Limited

Zhong An Intelligent Living Service Limited operates in the property services sector, providing intelligent living and related management services, with its shares listed on the Hong Kong Stock Exchange. Zhong An Group Limited is the controlling shareholder, indirectly holding a majority stake in Zhong An Intelligent as a non-wholly owned subsidiary.

Average Trading Volume: 154,677

Technical Sentiment Signal: Sell

Current Market Cap: HK$988.3M

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