Kwan On Holdings Limited (01559) released the final results of its non-underwritten rights issue of one rights share for every two existing shares.

A total of 21 valid acceptances and excess applications covered 885.44 million rights shares, equivalent to 94.74% of the 934.58 million shares on offer. Consequently, 49.14 million rights shares (5.26%) remained unsubscribed.

Gross proceeds total HK$61.98 million, with net proceeds after expenses amounting to HK$60.18 million. The company reiterated that funds will be deployed in line with the uses detailed in the prospectus.

Excess demand was fully met: 376.83 million rights shares were available for excess application, while valid requests reached 327.69 million shares, all of which were allotted in full.

Major shareholder Sino Coronet subscribed for 519.73 million rights shares under its provisional allotment and applied for an additional 124.57 million excess shares. Post-issue, Sino Coronet’s holding expands from 55.61% to 61.13% (1.68 billion shares). Public float falls from 44.39% to 38.87%.

Total issued share capital increases from 1.87 billion to 2.75 billion shares.

Share certificates for fully-paid rights shares are scheduled for dispatch on 13 March 2026, with trading expected to commence on the Stock Exchange at 9:00 a.m. on 16 March 2026.