Apollo Future Mobility raises $5.44 million in scaled-back share placing
What's the deal? Apollo Future Mobility Group completed a placing of 75 million new shares on November 4, 2026, raising net proceeds of about US$5.16M (roughly $5.44 million). The shares were priced at US$0.07 each and placed with three independent investors.
The details: The placing generated gross proceeds of about US$5.35M and represents roughly 6.83% of the company's enlarged share capital. None of the three investors became a substantial shareholder.
Where the money goes: Apollo plans to use about 90% of the net proceeds to repay group debt and the rest for general working capital, including payroll, premises costs, director remuneration, and routine operating expenses.
Why it fell short: The raise came in below the amount originally contemplated because the shares were not fully placed. An October proposal had sought up to US$14.6M gross, which — if fully subscribed at US$0.07 a share — would have enlarged the share count by about 16.7%.
The signal: With about 90% of proceeds earmarked for debt repayment, the completed placing points to near-term liquidity and balance-sheet support rather than a growth-financing milestone. The Hong Kong-listed group carries a market value of about US$100.1M.
Read more: tipranks.com
Image credit: atramos
