NIU HOLDINGS (08619) has announced a proposal for a non-fully underwritten rights issue. The company intends to issue up to 289 million new shares at a subscription price of HK$0.107 per share to eligible shareholders on the basis of two rights shares for every one existing share held on the record date. This initiative aims to raise up to approximately HK$30.933 million before expenses, assuming no change in the number of issued shares before the record date. If all rights shares are fully subscribed, the gross proceeds are estimated to be about HK$30.933 million. After deducting estimated professional fees and related expenses of approximately HK$550,000, the net proceeds are expected to be around HK$30.383 million. The net price per rights share, after accounting for costs and expenses, is estimated to be approximately HK$0.105.