TASTY CONCEPTS (08096) Plans 3-for-2 Rights Issue to Raise Up to HK$28 Million Net
Stock News
Apr 27
TASTY CONCEPTS (08096) announced a proposal to issue rights shares on the basis of 3 new shares for every 2 existing shares held by eligible shareholders on the record date. The subscription price is set at HK$0.1 per rights share. The company plans to issue up to 289 million new shares, assuming no change in the issued share capital before the record date, to raise a maximum of approximately HK$28.9 million. If fully subscribed, the net proceeds from the rights issue are estimated to reach up to about HK$28 million. The company intends to allocate the entire net proceeds from the rights issue towards expanding its restaurant network and for the group's general working capital purposes.
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