FIRE ROCK (01909) announced that the company proposes to conduct a rights issue by issuing up to 96 million rights shares to eligible shareholders on the basis of 1 rights share for every 2 existing shares held on the record date, at a subscription price of HK$1.58 per rights share, to raise up to HK$152 million (before expenses) (assuming no change in the company's issued share capital on or before the record date and that all eligible shareholders fully subscribe for their respective entitlements of rights shares). The rights issue will not be offered to ineligible shareholders. The net proceeds from the rights issue (after deducting estimated expenses) are expected to be approximately HK$151 million (assuming no change in the company's issued share capital on or before the record date and that all eligible shareholders fully subscribe for their respective entitlements of rights shares). The estimated net subscription price per rights share (after deducting rights issue related expenses) is expected to be approximately HK$1.57.