Pacific Legend Group Limited (Stock Code: 8547) announced a proposed rights issue on the basis of one rights share for every two existing shares held on the record date. The subscription price is set at HK$0.10 per rights share. According to the announcement, this move could raise gross proceeds of approximately HK$29.6 million before expenses, with estimated net proceeds of around HK$28.1 million if the issue is fully subscribed.

The proposed rights issue will be conducted on a non-underwritten basis. It is subject to shareholders’ approval at an extraordinary general meeting (EGM) and to the Stock Exchange granting the listing and permission to deal in both nil-paid and fully-paid rights shares. Qualifying shareholders who take up their full entitlements will not experience immediate dilution, while those not participating in full may see their interests diluted. A placing agent, Constance Capital Limited, will place unsubscribed and otherwise untaken rights shares on a best-effort basis, and any realized premium (net of expenses) above the subscription price will be distributed to certain shareholders whose entitlements were not taken up.

Under the current plan, the company intends to use approximately HK$9.5 million of the net proceeds to repay or refinance a principal amount of RMB10 million of unsecured bond payables, HK$5.0 million for rental expenses including accrued amounts, HK$5.0 million for its Dubai project, HK$2.0 million for a new Hong Kong retail store, and the remaining HK$6.6 million for general working capital. The announcement specifies that the register of members will be closed in two periods: one from February 25 to March 3, 2026 for EGM attendance, and another from March 9 to March 13, 2026 for the rights issue entitlement.

Pending confirmation of necessary conditions, the expected timetable provides for listing and dealing in the nil-paid rights shares to begin on or around March 18, 2026, with acceptance and payment due by March 30, 2026. The announcement cautions that the transaction may not proceed if those conditions—including shareholder approval and listing permission—are not satisfied. Shareholders and investors are advised to exercise caution when dealing in the securities of Pacific Legend Group Limited.