Gelonghui, January 10 | TEAMWAY INTL GP (01239.HK) announced that, after the share capital restructuring comes into effect, the board of directors proposed to raise up to HK$15.78 million (before expenditure). The method is to issue 197,282,636 shares for each (1) adjusted share held by an eligible shareholder on the basis that one (1) adjusted share held on the record date will be issued one (1) share offering share at the subscription price of HK$0.08 per share. The share offering is for eligible shareholders only, and unqualified shareholders are not allowed to participate.
Assuming that the total issued share capital of the company is unchanged on or before the record date and the share offering is accepted, the maximum net proceeds from the share offering (after deducting estimated expenses) are estimated to be approximately HK$15.23 million (equivalent to the net price of each share offered share of approximately HK$0.08).