Envision Greenwise Holdings Ltd. plans to raise around HK$1.1 billion in combined gross proceeds through a concurrent vendor top-up share placement and RMB-denominated convertible bond offering, with a subsidiary of MiniMax Group Inc. identified as a prospective placee and subscriber, per a Hong Kong Exchange filing dated Aug.10. The dual fundraising package comprises a vendor placement of roughly 117.9 million existing shares and a matching top-up subscription of new shares, priced at HK$4.66 each. The placement price represents a 10.56% discount to the stock’s closing price of HK$5.21 on the last trading day. Upon completion, the newly issued top-up shares will account for 3.92% of the company’s enlarged issued share capital. Parallel to the equity placement, the group’s wholly-owned subsidiary will issue RMB472 million guaranteed convertible bonds settled in US dollars, maturing Aug.18, 2027. The bonds carry an annual coupon rate of 5%, with an initial conversion price set at HK$5.22 per share, marking a slight 0.19% premium to the latest close. Ninety per cent of the total net proceeds will be deployed to fund the previously announced acquisition of a cloud computing and data center services provider in China. The remaining 10% will be retained as working capital to support daily operations and business expansion. A subsidiary of MiniMax Group Inc., a leading developer of AI foundation models, is