Maxicity granted temporary HKEX waiver as public float falls to 8.50% following takeover

Bulletin Express

Aug 14

Maxicity Holdings Limited disclosed that its public float slid to 8.50% of issued share capital—far below the Hong Kong Stock Exchange’s (HKEX) 25% threshold—after GreenAir Energy Global Limited closed its general offer for the company on 13 August 2026. Only 33.98 million shares now remain in public hands.

To avert a breach of Listing Rule 13.32B(1), Maxicity applied for and received a waiver from HKEX on 14 August 2026. The exemption is valid until 14 September 2026, during which the company must restore compliance or risk withdrawal of the waiver.

The offeror, GreenAir Energy Global, plans to appoint a placing agent to dispose of sufficient shares in the open market to re-establish the 25% minimum free-float requirement “within a reasonable timeframe.” Maxicity stated it will issue further announcements once the public float has been restored.

Investors are urged to exercise caution when trading the shares until the float returns to regulatory standards.

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