The company BIOSYSEN (01355) has announced a board proposal to boost its authorized share capital. The initiative involves the creation of 8 billion additional shares.

Under the plan, the authorized share capital would be raised from HKD 20 million, divided into 2 billion shares with a par value of HKD 0.01 each, to HKD 100 million, consisting of 10 billion shares. These new shares, once issued, will rank equally in all respects with the existing shares.

As of the date of the announcement, 1.193 billion shares were already in issue, while 806.9 million shares remained authorized but unissued. The board believes that this capital increase is in the best interests of the company and its shareholders, as it will provide greater flexibility for future fundraising and support the group's potential growth and development.