Riverine China (01417) announced that on September 30, 2026 (after the trading session of the Stock Exchange), the company entered into a placing agreement with a placing agent. Under the agreement, the placing agent, acting as the company's agent, has conditionally agreed to use its best efforts to procure no fewer than six placees to subscribe for up to 33 million placing shares at a placing price of HK$4.00 per placing share.

The placing shares represent (a) approximately 8.15% of the total number of existing issued shares as at the date of this announcement; and (b) approximately 7.53% of the total number of issued shares as enlarged by the allotment and issue of the placing shares (assuming that, from the date of this announcement to the completion date, there is no change in the total number of issued shares other than the issue of the placing shares).

The placing price is HK$4.00 per placing share, representing a discount of approximately 14.62% to (i) the closing price of HK$4.685 per share as quoted on the Stock Exchange on the date of the placing agreement; and a discount of approximately 17.15% to (ii) the average closing price of HK$4.828 per share as quoted on the Stock Exchange over the last five consecutive trading days immediately preceding the date of the placing agreement.

Assuming all placing shares are placed, the gross proceeds from the placing are expected to be approximately HK$132 million, while the net proceeds from the placing (after deducting the placing commission and other related expenses in connection with the placing, including professional fees) are expected to be approximately HK$130 million, equivalent to a net issue price of approximately HK$3.942 per placing share.

The company intends to use the net proceeds primarily for leasing computing power resources, enhancing research and development capabilities, expanding customer coverage and service capabilities, and general working capital. The net proceeds are expected to be fully utilized by the end of March 2027.