China Water Industry Proposes New Rights Issue Amid Market Challenges

China Water Industry Group Limited (HK:1129) has released an update.

China Water Industry Group Limited has announced the termination of its previous rights issue due to weak market sentiment and a drop in share prices, and has proposed a new rights issue aiming to raise approximately HK$93.68 million. The proceeds are intended for debt repayment, investment in a biomass gas project, and general working capital. The rights issue will proceed on a non-underwritten basis, available only to qualifying shareholders, with a compensatory arrangement for any unsubscribed shares.

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