Glonghui November 24 | Ligao Holdings (08472.HK) announced that the company proposed to raise up to about HK$43.2 million in total proceeds by issuing up to 72 million shares of stock for each stock held on the record date using the subscription price of HK$0.60 per offering share, according to the basis that three (3) shares were issued for each share held on the record date (assuming that the number of issued shares did not change on or before the record date). The offering of shares is for eligible shareholders only, and no proposals will be made to excluded shareholders.
After deducting expenses, the maximum net proceeds from the stock offering are estimated to be approximately HK$41.7 million (assuming there is no change in the number of shares issued on or before the record date). Once the conditions for the offering of shares are met, regardless of the degree of acceptance of the provisional allotment of shares, the stock offering will proceed on a non-underwriting basis.