China Wood International Eyes HK$45.6 Million from Rights Issue
MT Newswires Live2024-11-20
China Wood International (HKG:1822) is proposing a one-for-one rights issue to raise gross proceeds of approximately HK$45.6 million, a Tuesday bourse filing said.
The materials trader will issue 411,219,340 rights shares to qualifying shareholders at HK$0.111 apiece, subject to shareholder approval. The shares represent roughly 50% of the company's enlarged issued share capital.
Proceeds from the issue will be used to invest in the functional food and beverage business in China and for general working capital.
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