Solowin Holdings agrees to USD 1.2 million private placement
AXG•Solowin Holdings agreed to sell 1 million Class B ordinary shares for USD 1.2 million to Gemini Asia Holdings, beneficially owned by its chairman and CEO. The subscription price is about 70% of the prior day's Class A closing price, and the CEO's voting power will reach approximately 95.17%.
1. Placement terms
Solowin Holdings agreed on November 5, 2026, to sell 1 million Class B ordinary shares to Gemini Asia Holdings for USD 1.2 million in an unregistered placement. The USD 1.20 per-share subscription price is approximately 70% of the USD 1.71 Class A closing price on November 4.
2. Proceeds and control
Gemini Asia Holdings is beneficially owned by Chairman and CEO Ling Ngai Lok, whose voting power will reach approximately 95.17%. Closing is expected around November 20, subject to customary conditions, and net proceeds will fund general working capital and corporate purposes.
