Hang Yick Holdings Company Limited (stock code: 1894) issued a prospectus outlining a proposed rights issue on the basis of four rights shares for every one consolidated share. Following a 20-into-1 share consolidation, 46.06 million consolidated shares are in issue, and up to 184.22 million rights shares may be offered at HK$0.46 per share.

If fully subscribed, the plan is expected to raise gross proceeds of approximately HK$84.70 million, with estimated net proceeds of around HK$82.00 million. Post-completion, the total number of issued consolidated shares could reach 230.28 million. According to the document, the proceeds will be allocated primarily to ongoing and potential new projects, the settlement of debts, and general working capital needs. The rights issue is arranged on a non-underwritten basis, with no minimum subscription amount specified.