China Information Technology (08178): 36.8 million unsubscribed shares have been successfully placed

According to the Zhitong Finance App, China Information Technology (08178) issued an announcement. According to the provisional quota notice, the company has received a total of 7 valid applications and acceptances, involving a total of 205.67,500 shares to be offered, accounting for about 35.85% of the total number of 57.3699 million shares available for subscription under the share offering.

According to the results of the share offering, and in accordance with the terms of the placement agreement, the placement agent carried out placement matters according to the best effort basis during the placement period (from July 8, 2026 (Wednesday) to 4 p.m., July 23, 2026 (Thursday)) to seek the consignee to subscribe for up to 36.8024 million shares to be placed.

At 4:00 p.m. on July 23, 2026 (Thursday) (the deadline for placement agents to place shares), in accordance with the terms of the placement agreement, a total of 36.8 million placed shares (accounting for about 64.15% of the total number of 57.3699 million shares available for subscription under the offer) were successfully placed to no less than six contractors at an placement price of HK$0.18 per share. Accordingly, there is no net income that can be distributed to non-acting shareholders under the compensation arrangement.

According to the acceptance results of the share offering and the results of the placement matters, the total number of shares offered or placed shares subscribed by shareholders and undertakers was 57.3675 million shares, accounting for about 99.99% of the total number of 57.369,900 shares available for subscription under the share offering.

The total proceeds raised from the stock offering and placement were approximately HK$10.326 million, while the net proceeds from the offering and placement (after deducting all necessary costs and expenses) were approximately HK$9.73 million. The Company intends to use all net proceeds to repay the Company's outstanding debts.