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Citychamp Watch & Jewellery Group ( (HK:0256) ) has provided an update.
Citychamp Watch & Jewellery Group plans a non-underwritten rights issue, offering one new share for every three existing shares at HK$0.10, to raise up to about HK$145.1 million before expenses and HK$143.4 million net if fully subscribed. The offer is limited to qualifying shareholders on record by late May 2026, and excludes non-qualifying investors.
Chairman Mr. Hon, his spouse Ms. Lam and their controlled entities, which together hold more than half of the company’s shares, have irrevocably committed to subscribe in full for their entitlement of 815,101,171 rights shares. Their undertaking secures a substantial portion of the fundraising, signalling strong insider support and reducing subscription risk for the capital raise, which could bolster the group’s balance sheet and financial flexibility.
More about Citychamp Watch & Jewellery Group
Citychamp Watch & Jewellery Group Limited is a Hong Kong-listed company in the watch and jewellery sector, focusing on the manufacture, distribution and retail of timepieces and related accessories. The group targets both domestic and international markets and maintains a broad shareholder base, including significant stakes held by chairman Mr. Hon and his related entities.
Average Trading Volume: 3,168,936
Technical Sentiment Signal: Sell
Current Market Cap: HK$348.2M
See more insights into 0256 stock on TipRanks’ Stock Analysis page.