UBTECH (09880.HK) recently announced that the company intends to place 7 million new H shares at a price of HK$83.88 per share, raising approximately HK$587.16 million. After deducting relevant costs and expenses, the net proceeds will amount to about HK$551.88 million. The placing price represents a discount of 19.96% compared to the closing price of HK$104.80 per share on the previous trading day (November 19). The placed shares will account for approximately 1.62% of the company's enlarged issued share capital. Guotai Junan International, CITIC Securities and TradeGo Markets will act as the placing agents for the transaction. UBTECH stated that the proceeds from the placing will be used for the group's business operations and development (including working capital, general corporate purposes and investments both domestically and overseas) and to repay the outstanding amounts (including principal and accrued interest) under the credit facilities of the group's relevant financial institutions. The directors believe that the placing transaction will supplement funds for the continuous optimization and iteration of the group's products and the future large-scale commercialization in the global market, as well as provide an opportunity to expand its shareholder base and capital base. The placing transaction will strengthen the group's financial position and provide more efficient financial support for the group. The directors consider the terms of the placing agreement to be fair and reasonable and in the overall interests of the company and its shareholders. This is also the third placing by UBTECH since its listing less than a year ago. The first two placings were respectively: On August 1, 1.42 million shares were placed at HK$92 per share, raising HK$131 million; On October 23, 5.06 million shares were placed at HK$86.18 per share, raising HK$436 million. UBTECH is mainly engaged in the design, production, commercialization, sales and marketing, and research and development of intelligent service robots and intelligent service robot solutions. The company was listed on the Hong Kong Stock Exchange on December 29, 2023, issuing 11.57415 million H shares (including the green shoe option) at HK$90 per share, raising approximately HK$1.042 billion. As of the midday closing on November 20, 2024, UBTECH closed at HK$103.9 per share, with a total market capitalization of approximately HK$44.118 billion. © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting Management Co., Ltd. is a domestic subsidiary of Hong Kong Meishun Management Consulting Co., Ltd. under the same ultimate controller. Both companies are under the same actual controlling party, and both operate under the same Chinese governance framework, complying with the laws of Hong Kong and mainland China.