Value Convergence Holdings Limited (Stock Code: 821) has announced the results of its recent rights issue and placing. A total of 48,784,915 Rights Shares were subscribed under valid acceptances and applications, amounting to approximately 9.86% of the 494,704,608 Rights Shares available. The placing agent arranged a total subscription of 33,160,000 shares on a best-effort basis, representing around 6.70% of the total available shares. As a result, shareholders and placees collectively subscribed for 81,944,915 shares, or about 16.56% of the total number offered, leaving the rights issue under-subscribed by approximately 83.44%.

The combined gross proceeds from the rights issue and the placing reached approximately HK$36.88 million, generating net proceeds of around HK$34.7 million. The announcement states that these funds are intended to cover the Group’s overhead expenses over the upcoming ten months, including rental, staff, professional, office, and other operating expenses.

Following completion of the placing, total issued shares in Value Convergence Holdings Limited rose from approximately 247,352,304 shares to 329,297,219 shares. The updated shareholding structure indicates that public shareholders hold 89.07%, directors collectively hold 0.62%, and a substantial shareholder holds 10.31%.

The company further reported no adjustments to the outstanding share options or convertible bonds as a result of the placing. The auditor verified that the existing exercise prices and conversion arrangements will remain unchanged.