Changes in Hong Kong stocks | SafeXun International (01953) rose more than 10% in early trading and plans to discount allotments to raise about HK$208 million net to be used for business expansion in Southeast Asia and Africa

The Zhitong Finance App learned that SafeXun International (01953) rose more than 10% in early trading. As of press release, it had risen 10.29% to HK$1.34, with a turnover of HK$2,5915 million.

According to the news, on October 21, Safexun International announced that the Company and the Placing Agent entered into a placement agreement on October 21, 2026 (after the trading period). According to this, the Company agreed to appoint a placement agent, and the placement agent has agreed to act as the Company's agent to do its utmost to induce no less than six placement targets to subscribe for up to 215 million placement shares at an placement price of HK$0.973. The placement price of HK$0.973 per share was discounted by approximately 18.58% from the closing price of HK$1.195 per share reported on the last trading day of the shares concerned on the Stock Exchange.

According to the announcement, the maximum gross proceeds and net proceeds from the placement (after deducting placement commissions, professional fees and all related expenses) were approximately HK$209 million and HK$208 million respectively. The Company plans to use the net proceeds from the sale for the working capital of new energy power plant construction contracts; business development in Southeast Asia and Africa; and general working capital.