Golden Power Group Holdings Limited (Golden Power) has entered into a conditional subscription agreement with Hong Kong private investor Mr Ko Kin Hang for the issuance of 6.49 million new shares at HK$0.65 each, the company announced on 6 August 2026 after market close.
The deal, executed under the board’s existing general mandate, will raise gross proceeds of approximately HK$4.20 million and net proceeds of about HK$4.10 million. Pricing reflects a 5.1% discount to the same-day closing price of HK$0.685 and a 7.9% discount to the five-day average close of HK$0.706.
Post-placement, the new shares will account for 16.7% of the current issued share capital and 14.3% of the enlarged base of 45.37 million shares. Mr Ko will hold 14.3% of the company, becoming a substantial shareholder and a connected person under Hong Kong listing rules. Founding chairman Mr Chu King Tien’s stake will dilute from 35.1% to 30.1%, while public float will fall to 45.6%.
Net proceeds are earmarked as follows: • HK$3.30 million (80%) – repayment of bank facilities maturing within six months. • HK$0.80 million (20%) – general working capital.
The subscription will utilise 83.5% of the company’s 7.78 million-share general mandate granted at the 21 May 2026 AGM, leaving 1.28 million shares unissued under that authority. No lock-up provisions restrict future share disposals by major shareholders or further issuances by the company.
Completion is contingent on customary conditions, including Stock Exchange listing approval for the new shares, and must occur by 27 August 2026 unless the parties agree otherwise. Golden Power cautions that the transaction may not proceed if conditions are unmet.
The company last tapped equity markets on 6 May 2026, raising net proceeds of HK$7.70 million via a similar share subscription, of which HK$2.30 million remains allocated to technology and production upgrades for specialty batteries.
Golden Power manufactures and sells disposable and rechargeable batteries and related products under its own and OEM brands, serving markets in mainland China, Hong Kong and overseas.