TIME INTERCON (01729) plans to offer a discount of approximately 14.97% for the placement of 1.08 billion shares, raising approximately HK$16.345 billion net.

TIME INTERCON (01729) announced on February 10, 2026, that the company plans to issue 1.08 billion new shares, representing approximately 5.45% of the company's existing issued share capital as of the date of the announcement, and approximately 5.16% of the company's enlarged issued share capital after the issuance and distribution of the new shares. The issue price is HK$15.22 per share, representing a discount of approximately 14.97% compared to the closing price of HK$17.90 per share on February 9. Assuming all the new shares are fully subscribed, the expected total proceeds from the share issuance are approximately HK$16.438 billion, with an expected net proceeds of approximately HK$16.345 billion. The company intends to use the net proceeds from the share issuance for the following purposes: (i) around 50% to support the company's strategic investments and acquisitions; (ii) around 30% for the development of global business and expansion of overseas operations; and (iii) around 20% for working capital and general corporate purposes to support the company's operations and growth. The specific use of the proceeds will be adjusted by the board of directors or authorized persons based on the company or group's operational conditions and actual needs.