Highland Co., Ltd. (01676) completed the placement of a total of 39.184 million shares to raise approximately HK$20 million

According to the Zhitong Finance App, Highland Co., Ltd. (01676) issued an announcement. All conditions contained in the placement agreement have been fulfilled, and the completion of the placement matters has been implemented on December 20, 2025. A total of 39.184 million shares of placed shares (equivalent to approximately 15.16% of the company's issued share capital after the issuance and expansion of the placed shares immediately after completion) have been successfully placed to no less than six undertakers at the placement price of HK$0.52 per share in accordance with the terms of the placement agreement.

The total proceeds from the placement were approximately HK$20.38 million. The net proceeds from the placement (after deducting placement commissions and other related expenses arising from the placement) are approximately HK$20 million. All of these funds are to be used for the following purposes by December 2026: approximately 50% for the Group's existing food business; approximately 30% for the Group's existing catering business; and 20% for the Group's general operating capital.