Sky Blue 11 (HKG:1010) has decided to terminate the Rights Issue following a judgment against the acquisition of B&W Beleggingen B.V and the plan to construct more yachts, a Tuesday filing with the Hong Kong Exchange said.
The company had planned to use 85% of the net proceeds of around HK$117.6 million from the rights issue for the expansion of its yacht business including the acquisition and manufacturing of Yachts.
The company plans to continue its yacht business at its existing production facility in Hainan, China.
The company's shares were down 1% in recent trade.
Price (HKD): $0.50, Change: $-0.01, Percent Change: -1.00%
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