China Next-Gen Commerce and Supply Chain Limited: Completion of New Share Placing
China Next-Gen Commerce and Supply Chain Limited Announces Completion of New Share Placing
China Next-Gen Commerce and Supply Chain Limited (Stock Code: 3928) has announced the successful completion of its placing of new shares under a general mandate, a move that significantly impacts the company’s capital base and shareholding structure.
Key Highlights for Investors
- Completion of Placing: The placing of 16,000,000 new shares was completed on 25 February 2026.
- Placing Price: Each new share was placed at HK\$8.88, resulting in total gross proceeds. After deducting placement commission and related expenses, the net proceeds are approximately HK\$140.75 million. The net price per share is about HK\$8.80.
- Impact on Share Capital: The new shares represent approximately 3.23% of the enlarged share capital of the company, bringing the total issued shares from 480,000,000 to 496,000,000.
- Shareholding Structure: After the placing, the major shareholders, Ms. Wang (founder), Concord Invest Capital (PTC) Limited (trustee of LIAN Trust), and Ever Realm Capital Limited, each now hold 360,000,000 shares, representing 72.58% of the enlarged share capital. The Placees collectively hold 16,000,000 shares (3.23%), while other public shareholders retain 120,000,000 shares (24.19%).
- Placee Information: Shares were placed to at least six independent third parties. None of the placees or their associates became substantial shareholders as a result of the placing.
- Board Composition: As of the announcement, the board comprises Ms. Wang Kelly (Chairperson and Executive Director), Ms. Ding Ziyi (Executive Director), and three independent non-executive directors: Mr. Lu Guoqiang, Ms. Xie Xiaolin, and Mr. Lu Yanjun.
Potential Price-Sensitive Factors
- Capital Raising: The successful placing increases the company’s capital base, potentially supporting business expansion, new investments, or strengthening the balance sheet. Investors should refer to prior announcements for detailed use of proceeds.
- Shareholding Dilution: The placing dilutes existing shareholdings, especially for public shareholders, as the overall percentage held by major shareholders decreases from 75% to 72.58%, and public shareholders decrease from 25% to 24.19%. This dilution may affect earnings per share and voting power.
- Market Impact: The entry of new independent placees could enhance liquidity in the stock, but the placing price (HK\$8.88) and net price (HK\$8.80) may set a benchmark for near-term trading. The substantial capital raised can be viewed positively if deployed effectively.
- Control Remains Stable: Despite the dilution, control remains with Ms. Wang and related entities, with intricate trust and holding structures ensuring continuity in management and strategic direction.
Detailed Shareholding Structure Table
| Shareholder |
Shares Before Placing |
% Before |
Shares After Placing |
% After |
| Ms. Wang |
360,000,000 |
75.00% |
360,000,000 |
72.58% |
| Concord Invest Capital (PTC) Limited |
360,000,000 |
75.00% |
360,000,000 |
72.58% |
| Ever Realm Capital Limited |
360,000,000 |
75.00% |
360,000,000 |
72.58% |
| The Placees |
— |
— |
16,000,000 |
3.23% |
| Other Public Shareholders |
120,000,000 |
25.00% |
120,000,000 |
24.19% |
| Total |
480,000,000 |
100.00% |
496,000,000 |
100.00% |
Additional Details
- Trust Structure: Ms. Wang is the founder of the LIAN Trust, which is managed by Concord Invest Capital (PTC) Limited as trustee. The trust holds 100% of Aevum Investments Limited, which holds Nebula Investments Limited, which in turn holds Ever Realm Capital Limited. This complex structure ensures centralized control.
- Independent Placees: Extensive due diligence was carried out, confirming that the placees and their ultimate beneficial owners are independent third parties, safeguarding against any unintended changes in control or substantial shareholding.
Conclusion
The completion of the placing is a material event for China Next-Gen Commerce and Supply Chain Limited. Investors should closely watch how the company deploys the HK\$140.75 million in net proceeds and monitor any subsequent disclosures on the use of funds. The dilution effect and benchmark placing price may influence trading sentiment, while the stable control structure could assure continuity. This event is potentially price-sensitive and may impact share value depending on market interpretation and the company’s next strategic moves.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research and consult with professional advisors before making investment decisions. The company’s future actions and market conditions may affect the share price.
View CHINA NEXT-GEN Historical chart here
