Brief: Munsun Capital Group Proposes To Raise Capital Via Rights Issue

Bay Area Gold

21/06/2018 15:29

June 21 (Reuters) - Munsun Capital Group Ltd  1194.HK :
    * COMPANY PROPOSES TO RAISE CAPITAL BY WAY OF RIGHTS ISSUE
    * AGGREGATE SUBSCRIPTION PRICE FOR RIGHTS SHARES WILL BE NOT
LESS
THAN ABOUT HK$1,101 MILLION AND NOT MORE THAN ABOUT HK$1,110
MILLION
    * TO ISSUE NOT LESS THAN 5 BILLION RIGHTS SHARES AND NOT
MORE THAN
5.5 BILLION RIGHTS SHARES AT SUBSCRIPTION PRICE OF HK$0.22 PER
SHARE
    * ESTIMATED NET CASH PROCEEDS FROM RIGHTS ISSUE WILL NOT BE
LESS
THAN ABOUT HK$326 MILLION & NOT MORE THAN ABOUT HK$1,096 MILLION
    * TO ISSUE RIGHTS SHARE ON BASIS OF SIX RIGHTS SHARES FOR
EVERY
ONE EXISTING SHARE HELD
    * PLANS TO USE 85% OF NET CASH PROCEEDS FROM ISSUE TO REPAY
BANK
AND OTHER BORROWINGS DUE WITHIN NEXT 12 MONTHS

Source text for Eikon:  ID:nHKS6JsfRf 
Further company coverage:  1194.HK 

 ((Reuters.Briefs@thomsonreuters.com;))