FINWIRES · TerminalLIVE
FINWIRES

Impro Precision to Raise HK$539 Million via Top-Up Placement, Subscription; Shares Slip 4%

By

Impro Precision Industries (HKG:1286) plans to raise about HK$539 million in net proceeds through a top-up placing and subscription, according to a Wednesday Hong Kong bourse filing.

An existing shareholder is set to offer up to 60 million shares at HK$9.10 per share to at least six independent investors on a best-efforts commitment, representing about 3.18% of the company's existing issued share capital.

Impro Precision will issue the same number of new shares to the seller under the top-up subscription at the same price.

The placing price represents a 13.6% discount to the stock's last closing price.

Net proceeds will be used for capital expenditures at the company's Mexico and China plants to meet demand related to AI data centers, future aerospace production capacity expansion, repayment of bank borrowings, and general working capital and corporate purposes.

Shares of the precision machining components maker were down more than 4% in late morning trade on Wednesday.

Related Articles

Asia

S&P Raises Zijin Mining's Outlook to Positive; Shanghai Shares Down 3%

S&P Global Ratings affirmed Zijin Mining Group's (SHA:601899, HKG:2899) BBB rating and raised the outlook to positive from stable.The positive outlook reflects the rating agency's view that Zijin Mining will deliver rising output from its projects in the next two years and its policy of controlling debt to EBITDA and resilient metals prices will keep the ratio below 1.5x, according to a Tuesday research note..Zijin Mining's stronger cash flow, which is expected to continue into 2026, will somewhat cushion its elevated investments, S&P said.Shares of the miner were down 3% on the Shanghai bourse and 2% on the Hong Kong bourse.

$HKG:2899$SHA:601899
Asia

Australian Federal Court Hits Westpac With AU$26 Million Fine Over Hardship Failures

The Australian Federal Court ordered Westpac Banking (ASX:WBC, NZE:WBC) to pay AU$26 million in civil penalties after failing to respond to over 200 online hardship requests within the time required by law over 2017 to 2023, the Australian Securities and Investments Commission said in a statement on Wednesday.The requests were from customers of Westpac and its St George Bank, Bank SA, and Bank of Melbourne subsidiaries who were struggling to meet repayments on products including home loans, credit cards, personal loans and car loans, the regulator said.The company made admissions of contravention during the proceedings and compensated affected customers with over AU$1.7 million in remediation costs, the regulator said.In an emailed statement to, a Westpac spokesperson said the company self-reported the issues in 2022 and 2023 and completed a remediation program, including refunds of fees and charges, debt waivers and payments for non-financial loss. The bank received roughly 695,000 requests for hardship assistance over the period."Westpac acknowledges the Court's decision. We again apologise to any customers who were affected. We are deeply sorry we let them down," the spokesperson said.The bank's Australian shares were down 2% in recent Wednesday trade, while its New Zealand shares shed about 3%.

$ASX:WBC$NZE:WBC
Asia

Market Chatter: InSilico Medicine Considering Secondary Listing in Abu Dhabi

InSilico Medicine (HKG:3696) is considering listing in Abu Dhabi less than a year after going public in Hong Kong, Bloomberg News reported Tuesday.The Boston-based biotechnology firm has held preliminary discussions to list shares on the Abu Dhabi Securities Exchange as early as this year, the report said, citing people familiar with the matter.InSilico Medicine was listed in Hong Kong in December 2025, raising HK$2.28 billion from its IPO. The Tencent Holdings-backed (HKG:0700) drug discovery company had a stellar trading debut with shares closing 25% higher than their IPO price of HK$24.05 in their first day of trading.Insilico has yet to respond to' request for comment at press time.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$HKG:0700$HKG:3696