HK ROBOTICS (00370) plans to issue a rights offering based on a "2 for 1" basis, aiming to raise a maximum net amount of approximately HK$203.3 million.
The Hong Kong Robotics Company (00370) announced that the company proposes to issue approximately 1.049 billion shares for a rights offering at a basis of 2 for 1, with each share priced at HKD 0.21. The net proceeds from the rights offering are expected to be approximately HKD 203.3 million, of which about 66.3% will be used for the procurement and development of the groups robotics business and related projects, 4.9% will be allocated to the groups building construction business, 11.6% will be used as general working capital for the group, and 17.2% will be used to repay the groups outstanding debts.
HK ROBOTICS (00370) announced that the company proposes to issue approximately 1.049 billion shares at a "2 for 1" basis for the rights issue, with each rights share priced at HKD 0.21. The net proceeds from the rights issue are expected to be approximately HKD 203.3 million, with about 66.3% allocated for the procurement and development of the Group's Siasun Robot & Automation business and supporting projects, 4.9% for the Group's building construction business, 11.6% for general operating funds of the Group, and 17.2% for repaying the Group's outstanding debts.
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