Xinming China Seeking HK$106 Million via Rights Offering
MT Newswires Live
Feb 20
Xinming China (HKG:2699) is looking to raise up to HK$106 million via a rights offering, according to a Hong Kong bourse filing Monday.
The property developer is offering six rights shares for every share held in the company at HK$0.188 each.
The company will offer a total of 563.6 million rights shares to eligible shareholders, representing 600% of its issued share capital and 85.71% as enlarged by the issue.
Unsold rights shares will be offered to outside investors.
The firm said the rights offering will help reduce the immediate financial burden of the firm.
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