Innovax Holdings Plans Share Consolidation and Rights Issue

Innovax Holdings Limited (HK:2680) has released an update.

Innovax Holdings Limited has announced the cancellation of 40 million share options, a share consolidation proposal that will convert every ten existing shares into one, and a rights issue intended to raise around HK$12 million. The rights issue will offer one new share for every two consolidated shares to qualifying shareholders. The company aims to use the proceeds to expand its placing, underwriting, and fund management services, as well as for general working capital.

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