Brief: Wealth Glory Holdings Announces Proposed Rights Issue

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24/08/2020 14:42

Aug 24 (Reuters) - Wealth Glory Holdings Ltd  8269.HK :
    * ANNOUNCES PROPOSED RIGHTS ISSUE ON BASIS OF 5 RIGHTS
SHARES FOR
EVERY 2 SHARES
    * PROPOSED TO RAISE GROSS PROCEEDS OF HK$41.1 MILLION FROM
ISSUE
    * ESTIMATED NET PROCEEDS FROM RIGHTS ISSUE WILL BE ABOUT
HK$39.2
MILLION
    * TO ISSUE 513.6 MILLION RIGHTS SHARES AT SUBSCRIPTION PRICE
OF
HK$0.08 PER RIGHTS SHARE
    * INTENDS TO APPLY NET PROCEEDS FROM RIGHTS ISSUE FOR
REPAYMENT OF
BONDS AND OTHER BORROWINGS, AMONG OTHERS

Source text https://bit.ly/3goVl61
Further company coverage:  8269.HK 

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