【Kingboard Group】Kingboard Group Places Kingboard Laminates Shares at 8.7% Discount, Raising HK$2.7 Billion

SocialAnxietyStaker · 2026-03-18T00:32:09+00:00

Kingboard Group will place a maximum of 130 million shares of Kingboard Laminates at a placement price of HK$21 per share, representing an 8.7% discount to the previous closing price. The placement is expected to raise net proceeds of approximately HK$2.72 billion, which will be used for the group's general working capital and to improve its liquidity position to support future development. Upon completion, the group's shareholding in Kingboard Laminates will be reduced to approximately 67%.

SocialAnxietyStaker

2026-03-18 00:32:09

Abstract generation in progress

Kangtao Group (00148) announced a placement of Kangtao Laminates (01888) of up to 130 million shares, representing 4.2% of the issued share capital of Kangtao Laminates. The placement price is HKD 21, compared to the previous day’s closing price of HKD 23, representing an 8.7% discount. The net proceeds from the sale are approximately HKD 2.72 billion, which are intended to be used as general working capital for the group.

Kangtao Group stated that the sale is expected to improve the group’s overall liquidity position, providing additional financial resources to support its ongoing operations and future development.

After completion, the group’s direct and indirect ownership of Kangtao Laminates will decrease from approximately 71.1% to about 67%. Kangtao Laminates will remain a subsidiary of the company, and its financial performance will continue to be consolidated into the group’s financial statements.

Source: Kangtao Group Announcement

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