Pinestone Capital Raises Nearly HK$58 Million from Rights Issue; Shares Slip 1%
MT Newswires Live
Oct 14
Pinestone Capital (HKG:804) has completed a rights issue on the basis of three rights shares for every two consolidated shares held, raising net proceeds of about HK$57.6 million, according to a Monday Hong Kong bourse filing.
Shares of the financial service provider were down over 1% in Tuesday morning trade.
All 36.5 million rights shares were fully subscribed or placed at HK$1.66 per share, the company said.
The proceeds will be used primarily for margin financing, money lending, virtual asset licensing, and general working capital.
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