Zhitong Financial App News, Oriental Huicai Securities (08001) issued an announcement that the board of directors proposes to issue 62.208 million rights shares at a subscription price of HK $0.1200 per rights issue on the basis of one rights issue for every 2 existing shares held by eligible shareholders on the record date, with a maximum of about HK $7.46 million (excluding expenses) raised. The subscription price is HK $0.12 per rights share, which is approximately 50.82% off the closing price of HK $0.2440 per share quoted on the Stock Exchange on the last trading day.
Assuming that there will be no change in the total issued share capital of the company on or before the record date and the number of rights issues is accepted, the net proceeds are estimated at HK $7.23 million.