Black Sesame: entered into termination pact with placing agents

Black Sesame International Holding Limited (02533) announced on February 19, 2025, that it entered into a placement agreement with a placement agent to issue 53.65 million new shares at HKD 23.20 per share, representing an 11.79% discount to the prior trading day’s closing price of HKD 26.30 according to the announcement. The placement, conditional on securing no fewer than six investors, would result in the issuance of approximately 9.35% of the company’s existing shares, diluting to 8.55% of the expanded share capital post-allocation. Total proceeds are projected at HKD 1.245 billion, with net proceeds of HKD 1.237 billion after fees and expenses. Funds will prioritize core technology R&D (e.g., next-generation autonomous driving chips), advanced AI-related projects, commercialization capacity building, strategic investments, and working capital as outlined in the announcement.

As of March 18, 2026, no publicly available information confirms the termination of this agreement or subsequent actions involving placing agents. The company’s disclosures remain limited to the terms outlined in the February 2025 announcement, with no further updates provided in regulatory filings or news releases accessible through standard channels(https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0219/2025021900045.pdf). Investors are advised to monitor official statements for developments regarding the placement’s status or potential modifications to the agreement.

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