Hong Kong–listed Tasty Concepts announced a non-underwritten rights issue aimed at raising up to HK$28.90 million before expenses. Shareholders registered on 25 June 2026 will be offered three rights shares for every two shares held, at a subscription price of HK$0.10 per rights share.
The subscription price represents: • a 16.70% discount to the HK$0.120 closing price on the last trading day (27 April 2026); • a 7.40% discount to the theoretical ex-rights price of HK$0.108; and • a 42.90% premium to the latest audited net asset value of HK$0.07 per share.
If fully taken up, 288.75 million new shares—equivalent to 150% of the current issued share capital and 60% of the enlarged share capital—will be issued, lifting total shares outstanding to 481.25 million. The net proceeds are estimated at HK$28.00 million after approximately HK$0.90 million in expenses. Management intends to deploy about HK$20.00 million to expand the restaurant network and about HK$8.00 million for general working capital.
The rights issue will proceed irrespective of the acceptance level. Any unsubscribed or excluded shareholders’ entitlements will be placed on a best-effort basis by Suncorp Securities, with any premium over the subscription price returned to the relevant shareholders.
Key dates include: • Extraordinary general meeting for approval: 12 June 2026 • Shares trade ex-rights: 16 June 2026 • Prospectus despatch: 26 June 2026 • Nil-paid rights trading: 30 June–8 July 2026 • Latest payment and acceptance: 13 July 2026 • Results announcement: 5 August 2026 • Fully-paid rights share trading commences: 7 August 2026
An independent board committee has been formed, and Vinco Financial Limited has been appointed as independent financial adviser. Executive Director Ms. Sung Kwan Wun, the sole director classified under connected-party rules, will abstain from voting at the EGM.
The theoretical dilution effect is 10.0%, meeting GEM Listing Rule 10.44A requirements. The company has conducted no other equity fundraising in the past 12 months.