JUTAL OIL SER (03303) Proposes Rights Issue at Approximately 69.23% Discount on "6-for-1" Basis, Targeting Maximum Net Proceeds of ~HK$55.1 Million
Stock News
Jan 14
The board of JUTAL OIL SER (03303) has proposed a rights issue on the basis of "6-for-1," involving the issuance of approximately 356 million rights shares. The subscription price for each rights share is set at HK$0.16, representing a discount of approximately 69.23% compared to the closing price of HK$0.520 per share on the Hong Kong Stock Exchange on the last trading day. Assuming full subscription of the rights issue, the net proceeds are estimated to be about HK$55.1 million. Approximately 90% of the funds raised will be allocated to the expansion of the Group's existing production facilities, while the remaining 10% will be used for general working capital and corporate purposes.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.