Crown International Corporation Limited (HK:0727) has released an update.
Crown International Corporation Limited announced a non-underwritten rights issue to raise up to HK$159 million at HK$0.09 per share, offering one new share for every two shares held. The funds are designated for capital expenditure in property development projects. Shareholders are advised to exercise caution, as the rights issue, which is not subject to shareholder approval and has no minimum subscription level, will proceed regardless of acceptance rate and may lead to dilution of ownership for non-participating shareholders.
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