China Shenghai Group Limited (HK:1676) has released an update.
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China Shenghai Group Limited is planning a rights issue to raise up to HK$30.8 million by offering 77,005,000 new shares at HK$0.40 each. The rights issue will be conducted on a non-underwritten basis, allowing shareholders to purchase one new share for every two existing shares. This strategic move aims to bolster the company’s financial position without requiring shareholder approval.
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