China Port Energy (00931) plans to issue approximately 1,487 billion new shares to Spark Industrial at a discount of approximately 7.9% to raise about HK$397 million

According to Zhitong Finance App, China Hong Kong Energy (00931) announced that on August 14, 2026, the Company entered into a subscription agreement with the subscriberer Spark Industrial Group (Hong Kong) Limited (Spark Industrial). Subject to the terms and conditions contained in the subscription agreement, the subscribing party has agreed to the subscription, and the Company has already agreed to allocate and issue a total of approximately 1,487 million new shares. The subscription price is HK$0.267 per share.

Subscription shares account for about 15.42% of the total number of issued shares after expansion. The subscription price of HK$0.267 per subscription share was discounted by about 7.9% compared to the closing price of HK$0.29 per share on August 14, 2026.

The total proceeds and net proceeds from the issuance of subscription shares are estimated to be approximately HK$397 million and HK$397 million respectively. The Company intends to use the net proceeds from the subscription (after deducting commissions and estimated expenses) for the Group's general working capital, including for investing in the Group, repayment of current liabilities and other general administrative and operating expenses.

The subscribing party will work with the Company to establish a HK$10 billion special fund in Hong Kong to support the layout and development of the Group's business in mainland China and globally. The Company will publish a separate announcement in due course on any significant development of the above special funds (including the conclusion of a formal agreement) in accordance with the requirements of the listing rules.

The directors believe that the subscription matter is a good opportunity to expand the company's shareholder base and capital base. Furthermore, the net proceeds from subscription transactions will enhance the Group's financial position.