Alpha Corporation (00948.HK) planning to issue up to 28 million shares, prioritizing old shareholders.

Tencent Finance APP News, Alpha Enterprise (00948.HK) announced that on November 12, 2025, the company, seller Wah Dat Investment Limited, and the placing agent entered into a placement and rights issue agreement. The seller agreed to appoint the placing agent, who agreed to use their best efforts to ensure that at least six underwriters purchase up to 28 million shares of the seller's shares at a price of HK$0.24 per share; and the seller conditionally agreed to subscribe, while the company conditionally agreed to issue new shares equal to the total number of shares sold under the offer, up to a maximum of 28 million subscribed shares, at a subscription price of HK$0.24 per share (equivalent to the offer price).