Gaodi (HKG:1676) is proposing to raise up to a little over HK$30.8 million through a one-for-two rights issue, an Oct. 18 bourse filing said.
Under the proposed issue, the seafood company will issue a maximum of 77,005,000 rights shares at HK$0.40 apiece on the basis of one rights share for every two existing shares as of Nov. 1.
The company will use proceeds from the issue for the growth and development of its existing food and beverage businesses, as well as for general working capital.
Shares of the firm were up nearly 14% in recent trade.
Price (HKD): $0.33, Change: $+0.040, Percent Change: +13.79%
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