Tasty Concepts Holding Limited has announced a non-underwritten rights issue that could raise up to HK$28.90 million before expenses.
The company will offer shareholders three rights shares for every two existing shares held on the 25 June 2026 record date. Up to 288.75 million new shares will be issued at HK$0.10 each, representing 150% of the current issued share capital and enlarging the total share count to 481.25 million if fully subscribed.
The subscription price is set at a 16.7% discount to the HK$0.120 closing price on the last trading day (27 April 2026) and at a 24.8% discount to the HK$0.133 closing price on the latest practicable date. Theoretical dilution is estimated at 10.0%.
Because the issue is not underwritten, any rights shares not taken up will be placed to independent investors by Suncorp Securities Limited on a best-effort basis. Unsubscribed or unsold entitlements that cannot be placed will be cancelled, reducing the final issue size accordingly. Net proceeds are expected to be about HK$28.00 million after roughly HK$0.90 million in expenses.
Use of funds: HK$20.00 million is earmarked to open four new restaurants—three Thai-style outlets in Wan Chai and Yau Tsim Mong districts and one Chinese-style outlet in Sha Tin—by end-2027; HK$8.00 million will bolster working capital, primarily staff and rental costs through April 2027.
Key dates include: • 26 June 2026 – Dispatch of prospectus • 30 June-8 July 2026 – Trading of nil-paid rights • 13 July 2026 – Final acceptance and payment • 7 August 2026 – Expected first trading day of fully-paid rights shares
If all conditions are met, listing approval for both nil-paid and fully-paid rights shares will be granted by the Stock Exchange. Shareholders who do not participate will see their proportional interest diluted to 40.00% under a full take-up scenario.
Comments