TASTY CONCEPTS (08096) plans to conduct a rights issue on a "2 shares for every 3 existing shares" basis, with a maximum net proceeds of approximately HK$28 million.
Shang Zhi Wei (08096) announced that the company intends to issue 2.89 billion new shares through a rights issue at a subscription price of HK$0.1 per share, with a ratio of 3 new shares for every 2 existing shares held by eligible shareholders on the record date, aiming to raise up to approximately HK$289 million. If fully subscribed, the estimated net proceeds from the rights issue will be up to approximately HK$280 million. The company plans to use the net proceeds from the rights issue to expand its restaurant network and for general working capital of the group.
TASTY CONCEPTS (08096) has announced that the company plans to issue a total of 289 million new shares at a subscription price of HK$0.1 per share on the basis of three shares for every two shares held by eligible shareholders on the record date. This is expected to raise approximately HK$28.9 million. If fully subscribed, the estimated net proceeds from the rights issue will be around HK$28 million. The company intends to use the net proceeds from the rights issue to expand its restaurant network and for general working capital purposes.
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