Kingkey Financial Raises HK$413 Million from Rights Issue

MT Newswires Live01-08 19:39

Kingkey Financial (HKG:1468) raised net proceeds of HK$412.7 million from its recently concluded rights issue, according to a Wednesday disclosure.

The securities broker received two applications for nearly 549.3 million rights shares, representing 99.1% of the 549.4 million rights shares allocated for the deal.

Dealings in the newly issued rights shares are expected to begin on Jan. 9, Thursday.

Kingkey Financial offered qualified investors the rights to buy one new share for every two held at HK$0.76 per share.

About 50% of the deal proceeds will be used to expand the group's securities business, 30% will finance the money lending business, and 20% will be used to beef up working capital.

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