Guofu Hydrogen Energy (02582.HK) intends to issue a total of up to 4.909 million shares, raising a net amount of HKD 149 million

Guotou Hydrogen (02582.HK) announced on March 11 that on March 10, 2026, the company entered into a placing agreement with the placing agent (i.e., Macquarie). Pursuant to the agreement, the placing agent has conditionally agreed, on a best effort basis, to facilitate the subscription of up to 4,908,950 placing shares by the subscribers at a placing price of HKD 31.07 per share.

The placing price of HKD 31.07 per share represents a discount of approximately 12.28% to the closing price of HKD 35.42 on the Stock Exchange on the date of the placing agreement. The number of placing shares accounts for approximately 5.08% and 4.03% of the existing issued H shares and total issued shares as of the date of this announcement, respectively. Assuming all placing shares are fully subscribed, the estimated total proceeds from the placing are approximately HKD 152.5 million. The estimated net proceeds are approximately HKD 148.5 million.

The company currently intends to use the net proceeds from the placing as follows: (i) approximately 70% for working capital and general corporate purposes to support the group’s business operations and growth; and (ii) approximately 30% for repaying outstanding amounts under existing credit facilities. The specific use of the proceeds may be adjusted by the board of directors or its authorized persons based on the company’s or group’s operational conditions and actual needs, as well as relevant opinions received from applicable regulatory authorities.