E&P Global Holdings Limited (1142) announced a share placement agreement dated 27 November 2025, appointing a placing agent to place up to 1,368,000,000 new shares at HK$0.34 per share on a best-effort basis. The shares represent approximately 10.83% of the company’s existing share capital, or around 9.77% of the enlarged share capital. No shareholder approval is required for this issue, as it falls under the general mandate granted at the company’s annual general meeting.

The total proceeds from the placement amount to HK$465.12 million, with net proceeds of about HK$459.60 million after expenses. The company intends to use roughly HK$265.04 million (57.67% of the net proceeds) to repay existing liabilities, HK$40 million (8.70%) to expand its energy commodity trading business in the Republic of Korea, HK$100 million (21.76%) to develop coal and other energy product trading in the PRC, HK$33 million (7.18%) to explore renewable energy business opportunities, and HK$21.56 million (4.69%) for general working capital.

According to the announcement, the placement aims to improve E&P Global Holdings Limited’s financial position, reduce borrowings, and diversify its shareholder base. The company highlighted that this initiative may also help mitigate existing shareholding concentration. The new shares, once issued, will rank equally with existing shares. However, the completion of the placement remains subject to certain conditions and may not proceed if these conditions are not fulfilled. The company advises market participants to exercise caution when dealing in its securities.