MOON INC (01723) has announced a board proposal to raise funds through a rights issue, offering 239 million new shares at a subscription price of HK$0.265 per share on the basis of one rights share for every two shares held by eligible shareholders on the record date. The gross proceeds from the issue, before deducting expenses, are expected to amount to a maximum of approximately HK$63.37 million.
The rights issue will be available exclusively to eligible shareholders, while ineligible shareholders will not be permitted to participate. Assuming no change in the company's total issued share capital up to the record date and full acceptance of the rights issue, the net proceeds are estimated to reach approximately HK$61.15 million after deducting estimated expenses, including but not limited to any commission payable to the placing agent.
The board has also proposed to alter the board lot size for trading its shares on the Stock Exchange from 2,000 shares to 10,000 shares, effective from 9:00 a.m. on Tuesday, 13 October 2026. Shareholders are advised to note that the change in board lot size does not require shareholder approval.
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