Dayu Financial (01073) issued an announcement. The company proposed to issue a maximum of HK$1,139 million worth of shares to eligible shareholders at a subscription price of HK$0.15 for each existing share held on the record date (assuming no change in the number of issued shares on or before the record date), using this method to raise up to about HK$170.9 million (before deducting expenses). The offering of shares may only be submitted to eligible shareholders, and will not be extended to ineligible shareholders.
The maximum net proceeds from the stock offering are estimated to be approximately HK$170 million (assuming no change in the number of issued shares on or before the record date). The company plans to use approximately HK$150 million of the net proceeds from the stock offering to inject seed capital into the fund to expand its asset management business and use HK$20 million as capital for the Group's money lending business.