zyngapoker500mfreechips2022| Tehai International plans to sell 2.6927 million American Depositary Shares with a net raise of approximately US$44.31 million

Tehai International (09658) issued an announcementzyngapoker500mfreechips2022, on May 16, 2024 (Eastern Time)zyngapoker500mfreechips2022, the company entered into an underwriting agreement with the underwriter for the offering, and the company will sell 269zyngapoker500mfreechips2022.270,000 American Depositary Shares (representing a total nominal value of 134zyngapoker500mfreechips202226.927 million underlying shares worth US$635). Each American Depositary Share represents 10 newly issued ordinary shares as underlying shares. The Company also granted the underwriters a 30-day option (the "over-allotment option") to purchase from the Company up to an additional 403,900 American depositary shares (representing 4.039 million underlying shares with a total par value of US$20.195) at the initial public offer price less underwriting discounts and commissions.

As of the date of this announcement, the company has issued 619 million ordinary shares. Assuming that the Company's issued share capital will not change between the date of this announcement and the closing date, the total number of 30.966 million underlying shares (after taking into account the over-allotment option) is equivalent to approximately 5% of the existing outstanding ordinary shares as at the date of this announcement; and approximately 4.76% of the outstanding ordinary shares as enlarged by the allotment and issue of underlying shares.

Based on the representative ratio, the offer price of US$19.56 per American Depositary Share is equivalent to approximately HK$15.28 per underlying share, which represents a discount of approximately 9.80% to the closing price of HK$16.94 per ordinary share as quoted by the Stock Exchange on May 16, 2024 (Hong Kong time)(i.e., the last trading day immediately before the date of the underwriting agreement and the pricing date).

The total proceeds from the offering ranged from approximately US$52.67 million (assuming the over-allotment option would not be exercised) to US$60.57 million (assuming the full over-allotment option would be exercised). It is expected that net proceeds of approximately US$44.31 million will be raised from the offering after deducting underwriting fees and estimated expenses of approximately US$4.67 million (assuming the over-allotment option will not be exercised); and approximately US$51.66 million will be raised from the offering (assuming the over-allotment option will be fully exercised).