Crown International Corporation Limited (HK:0727) has released an update.
Crown International Corporation Limited has corrected its previous announcement, setting the subscription price for its non-underwritten rights issue at HK$0.088 per share, which aligns with the closing stock price on the last trading day and is a slight premium over the recent average closing prices. The rights issue aims to raise a maximum of HK$155.4 million in gross proceeds, with the net proceeds of approximately HK$150.8 million earmarked for capital expenditure in property development projects. The company highlights that the offering terms are fair and provide existing shareholders an opportunity to maintain their proportional interests.
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