Dragon Rise Group Holdings Ltd. (HK:6829) has released an update.
Dragon Rise Group Holdings Ltd. has announced a share consolidation, proposing to combine every ten existing shares into one consolidated share, alongside a rights issue to raise approximately HK$28.8 million. For each consolidated share held, shareholders will have the option to purchase one rights share at HK$0.20. The net proceeds, estimated at HK$27.7 million, are intended to fund construction projects, repay part of a bank loan, and cover general working capital needs.
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