OP Financial(1140.HK) Announces placing of up to 900 million shares at a price of HK$1.50 per share

Corporate News 02 Jun 2015

(Hong Kong, 2 June 2015) OP Financial Investments Ltd. (“OPFI” or the “Group”, Stock Code: 1140.HK) today announces that the Group has entered into a placing agreement, agreed to place up to 900,000,000 shares to not less than six placees at a price of HK$1.50 per share. The maximum gross proceeds to be raised from the placing will be approximately HK$1,350 million, which is intended to be applied for investments in cross-border capital transactions and related projects and companies, as well as high potential growth companies with valuable technologies.

The placing price of HK$1.50 represents a discount of approximately 29.91% to the closing price of HK$2.14 per share as quoted on the Stock Exchange on the date of the placing agreement (i.e. 1 June 2015). Assuming that the placing shares are fully placed, the 900,000,000 shares represent approximately 95.60% of the existing issued share capital of the Group, and approximately 48.88% of the Group’s enlarged issued share capital.

Mr. Zhang Gaobo, Executive Director and Chief Executive Officer of OPFI, comments: “As a Hong Kong based investment company, we focus on cross-border capital transactions, accumulating extensive experience and professional networks. Along with the implementation of Silk Road Economic Belt and Shanghai-Hong Kong Stock Connect Program, and the accelerated internationalization of the Renminbi, there has been an increasing out flow of Chinese capitals and cross border investment activities. The placing will broaden our shareholder and capital bases, enabling the Group to capture broad opportunities stimulated by cross-border transactions.”